American Express signs two agreements with Doha Bank

Published February 21st, 2008 - 08:01 GMT

American Express Middle East and Doha Bank announced today the signing of two significant agreements paving the way for acceptance of American Express Cards across all Point of Sale (POS) terminals of Doha Bank and enabling Doha Bank to sign merchants on behalf of American Express.

The POS Agreement and the External Sales Agreement signal an even wider acceptance of American Express Cards across a broad range of retail outlets in Qatar.

R. Seetharaman, Chief Executive Officer of Doha Bank, said: “The recent agreements capitalise on top of the attributes of both brands – Doha Bank’s extensive reach in Qatar and American Express’ premium offerings and services.  Our merchant network has witnessed steady growth in the last year and we are happy to expand this infrastructure to premium clientele of American Express.”

American Express’ partnership with Doha Bank commenced in 2007 with  Doha Bank being the only bank accepting over-the-counter, direct debit and online payments from customers in settling American Express monthly Card statements.

“With the segment of premium Cards rapidly growing, it  has been our strategic priority to extend the acceptance of American Express Cards across the country, making Card usage more convenient for our Cardmembers and also beneficial for merchants,” said Ziad Kablawi, Country Manager – Qatar, American Express Middle East.

“On average, our Cardmembers spend four to five times more per transaction using American Express Cards than they do with other Cards, which provides a direct benefit for merchants in growing their business,“ he said.

Kablawi added that the merchant acceptance of American Express Cards has risen by 73 per cent over the last four years in Qatar.

Nabil Tabbara, Senior Manager – Retail Banking of Doha Bank, said: “Retailers in Qatar are increasingly inclined to accept Card payments as they are experiencing the benefits it provides them in catering to a larger and a more profitable customer base.  We are confident that the External Sales Agent Agreement signed with American Express will further drive our merchant acquiring network.

“Moreover, this comes as an added value for our acquiring and payment services that the bank has started in 2006 through the launching of our unique instant on-line redemption of the Dream loyalty points in addition to being the first bank in Qatar to deploy the new wireless GPRS terminals which provides more convenience to customers not having to move out to enter their PINS, especially if they are dining out in restaurants.”

About American Express:
American Express Company is a diversified worldwide travel, financial and network Services Company founded in 1850. It is a world leader in charge and credit cards, Travellers Cheques, travel, financial planning, business services, insurance and international banking.

AMEX (Middle East) B.S.C. (c) - AEME established its presence in the Middle East in 1959 and set up its first office in Bahrain in 1979. In 1992, American Express became a joint venture company owned by Mawarid Investment Limited and American Express.

Operating in 18 markets in the Middle East and North Africa region, AEME issues dollar currency Credit and Charge Cards: Personal (Green), Gold, Platinum as well as Company and Corporate Cards. Since 2001, with the introduction of its first local currency Credit Card in the United Arab Emirates, AEME has been introducing a range of local currency Credit Cards across the region.

American Express Cards are accepted at millions of locations in more than 200 countries and territories worldwide.


About Doha Bank: Doha Bank is one of the largest banks in Qatar having a dominant position in Qatar banking landscape with 28 conventional branches, 4 Islamic branches, 10 e-branches, 5 pay offices, more than 100 ATMs in Qatar, existing overseas branches in New York and Dubai,  rep offices in Turkey, Japan, Singapore, Romania and China, and an extremely strong network of correspondent banking relationships.  As the best performing bank in the Middle East, Doha bank has been consistently maintaining the best performance ratios.

Doha bank provides comprehensive range of banking services for different customer segments, unmatched in Qatar. In Retail Banking segment, it has offerings for all conceivable personal needs of individuals requiring financing support, savings and investment options. The Bancassurance offers comprehensive products for individuals and group, Islamic takaful, and cover for all types of commercial requirement of corporate entities. Doha Islamic, the Islamic banking unit of Doha Bank offers a comprehensive range of products addressing diverse needs for individuals and corporates.

Doha bank has been applauded by respected financial sector analysts for its pioneering and leadership role in taking Banking experience in Qatar to new heights. Banker Middle East has adjudged Doha Bank as the “Best Bank in Middle East - 2006”. In addition, Doha Bank has also bagged the Euromoney award for excellence 2005, Banker Middle East award as the “Best commercial Bank in Middle East – 2005 and 2007”



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