(MENAFN - The Peninsula) Barwa Bank yesterday announced the opening of a Representative Office in Dubai International Financial Centre (DIFC). "This is the first time Barwa Bank has opened an office overseas and is testament to our commitment to developing the Shariah-compliant financial market outside as well as within Qatar," said Khalid Al Subeai, Acting CEO at Barwa Bank
"Barwa Bank has been providing facilities to public and private sector companies in the UAE for three years now. Opening a Representative Office is a logical next step as we seek to deepen existing relationships and enhance the level of service we can provide," said Keith Bradley, Group Chief Operating Officer and GM International at Barwa Bank
"We are delighted to welcome Barwa Bank to DIFC. In line with the vision of H H Sheikh Mohammed bin Rashid Al Maktoum, Dubai is well-positioned to become a hub for Islamic finance, and we look forward to supporting the growth of businesses such as Barwa Bank, who are looking to expand their Shari'ah compliant offering across the wider region," said Jeffrey Singer, CEO of DIFC Authority
Barwa Bank is well established to play a major role in the development of the banking and financial services sector in Qatar in the years to come, enjoying strong relations with major corporates, an increasingly growing SME portfolio and one of the fastest growing retail banking activities in the country. This momentum is expected to increase in 2014, as it continues to build up activities, and cement its position as a major Shari'ah compliant banking group in Qatar and the region.