QNB Group Receives Necessary Approvals to
Open a Branch in Hong Kong
September 28, 2019
QNB Group, a leading financial institution in the Middle East,
Africa, and South East Asia, announced that it has obtained the
regulatory approvals from Hong Kong Monetary Authority to open a
branch in Hong Kong, one of the world’s global financial hubs.
QNB Group explained in a press release today that the branch will
provide a full range of banking products and services. It will
also offer its award-winning expertise in the areas of trading
securities and wealth management, as well as other innovative
banking solutions.
On this occasion, Mr. Abdulla Mubarak Al-Khalifa, QNB Group Acting
CEO, said that receiving the approval to open a branch in such
an important market is another vital step in QNB Group’s
international expansion plans to support its growth strategy and
market leadership in MEASEA, as well as establish a foothold in
highly competitive markets.
Al-Khalifa said that growth in both Hong Kong and China is expected
to continue, driven by trade opportunities, direct investments,
and large infrastructure spending opportunities, and the Hong
Kong branch offers the opportunity to leverage QNB’s in-depth
expertise to capture investment and trade flows in this
promising market.
A significant volume of Hong Kong’s trade flows through countries
where QNB Group is present. Hong Kong is the gateway for QNB
Group’s clients to Mainland China and wider Asia and is the
first stop for globalizing Chinese corporates. Moreover, the
branch can further assist Chinese investments in the Middle East
and Africa.
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