As a part of Bank of China(BOC), one of the four biggest commercial banks in the world and the most internationalized and diversified bank in China, BoCQ has a capability to provide comprehensive financial service solutions. The comprehensive group structure, and the wide business coverage of nearly 600 overseas branches in nearly 60 countries and regions entitles it with an integrated service platform, which covers investment banking, direct investment, securities, insurance, funds, aircraft leasing etc. During its no more than two years of operation, it has successfully cooperated with several local partners such as Ooredoo, Qatar Airways, Commercial Bank of Qatar, Doha Bank, Qatar National Bank with various kinds of financing projects. On Aug 31 2019, the loans and advance of BoCQ is up to QAR 7.82 billion (USD 2.15 billion equiv). Compared with 2018, it increased QAR 3.59 billion (USD 0.97 billion equiv) with a growth of 85%. The current year to date profit is QAR 30.4 million (USD 8.36 million equiv). As a bank deeply rooted in Qatar,70% of BoCQ’s business resident in various kinds of financing facilities with local enterprises in Qatar. Since its establishment, BOCQ has taken RMB localization as a key task to actively develop RMB market and popularize RMB knowledge. Some achievements have been made, but we do believe it’s just a start. We are committed to building Qatar into a regional RMB clearing center. Except for serving local market in Qatar, BoCQ is trying to expand its business to neighboring countries of Qatar and other Middle Eastern Countries. So far it has reached Kuwait, Syria, Lebanon, Iraq, Jordan, Morocco, Algeria,Georgia, Armenia and Azerbaijan and accomplished some good co-operations such as the credit project with Zain, Socar, etc. Promoting QFC in these countries is one of our most important missions. As a QFC firm, it’s a huge honor to be sponsor of such a spectacular event. BoCQ will support the development of local enterprises and promote the local usage RMB ,also seek to become the preferred bank of Chinese companies and local business community, leading RMB business bank and bridge linking China and Qatar market.
Bank of China