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MENAFN - The Peninsula - 13/03/2011

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(MENAFN - The Peninsula) Commercial Bank of Qatar, announced yesterday that it has partnered with Qatar Industrial Manufacturing Company (QIMC) in a dividend distribution agreement.

The agreement, which was ratified during a signing ceremony yesterday, allows Commercialbank to provide administration services for QIMC's dividend distribution. The agreement was signed by Abduljalil Borhani, EGM, Chief Strategic Client Officer, Commercialbank and AbdulRahman Al Ansari, CEO, QIMC.

AbdulRahman said: "At QIMC, we are committed to distributing dividends with optimum efficiency to our shareholders. Commercialbank is recognized as one of the leading banks for dividend distribution, thanks to their advanced systems and a well established set of best practices that are in place. Undertaking the distribution process is a serious responsibility and we believe that Commercialbank can provide this service to us in the most trustworthy and professional manner possible. We are proud to sign up with Commercialbank as a business partner and look forward to a productive alliance through this landmark joint effort."

Abduljalil said: "Providing services aligned with international best practice is a major part of our commitment to building relationships with the key industries that drive Qatar's development. We are indeed proud to be entrusted with this responsibility. This initiative is a good example of how we can bring together the resources of public and private sectors to work together to deliver real value for QIMC's customers and for our business. We look forward to this collaboration with QIMC."

 






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