Deutsche Bank opens in Qatar

by ArabianBusiness.com staff writer Thursday, 01 February 2007

Deutsche Bank has received a licence from the Qatar Financial Centre Authority to provide financial services in the country.

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The bank will be based in the QFC tower in the centre of Doha's rapidly growing business district.
It already has established branches in Dubai and Riyadh, as well as a network of cross-divisional representative offices in Abu Dhabi, Egypt, Bahrain and Iran.

By the end of 2007, Deutsche Bank expects its staff numbers in the region to exceed 200.

Juergen Fitschen, a member of Deutsche Bank's group executive committee, said: "Deutsche Bank competes to be the world's leading provider of financial solutions. An important part of this vision is the development of a strong presence in the Middle East.

"By licensing in the Qatar Financial Centre, we demonstrate both our commitment to developing the bank's infrastructure in the region and our belief in the exciting growth prospects for Qatar."

Deutsche Bank has more than 67,000 employees in 73 companies and more than US$1,427bn in assets.



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