First Gulf to open branch in Qatar Financial Centre

Dubai: First Gulf Bank (FGB) yesterday said it has been authorised by the Qatar Financial Centre Regulatory Authority to operate in the Qatar Financial Centre.

The creation of the new branch furthers FGB's global expansion and revenue diversification strategy.

Andre Sayegh, FGB's CEO, said, "Qatar's economy is experiencing rapid growth across all sectors and we are delighted to be able to play a role and participate in this growth."

FGB will be offering a range of world class financial and corporate finance advisory services to institutions and wealthy individuals, who will benefit from the growing economy in Qatar.

Sayegh added: "Qatar is emerging as one of the world's dynamic economies as it enjoys one of the fastest growing GDPs, reaching 13.3 per cent real GDP, and valued in 2008 at over $80 billion," he added.

"The state has a robust plan to transform itself into one of the world's leading international financial and business centres and does offer unique set of opportunities.

"The Qatar Financial Centre is a central pillar of the strategy to this transformation thanks to its legal and business infrastructure, its commitment to quality and its team of professionals.

"We have full confidence in Qatar's rapidly growing and robust economy and FGB would be positioned to be part of this growth," added Sayegh.

Headquartered in Abu Dhabi, FGB was established in 1979.