DOCSLIB.ORG

Doha Bank Constantly Innovating to Help Fintech Ecosystem Grow in Qatar, Says Seetharaman

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Doha Bank Constantly Innovating to Help Fintech Ecosystem Grow in Qatar, Says Seetharaman Pandemic is testing the Federal Reserve’s new policy plan PAGE 12 THURSDAY, AUGUST 26, 2021 35,427.06 11,135.15 55944.21 1,792.50 DOW +60.80 PTS QE -30.86 PTS SENSEX -14.77 PTS GOLD -0.88 % Huawei gets US approvals to buy auto chips, sparking blow back PAGE 11 PRICE PERCENTAGE PRICE PERCENTAGE 23.92 BRENT 72.23 +1.66 % WTI 68.37 +1.23 % SILVER -0.07 % Barwa completes Qatar’s trade surplus rises sale of Janadriyah 213% to QR19.6 bn in July land plot in Riyadh QNA China tops countries of destination for Qatar’s exports with QR4.3 billion in July: PSA DOHA BARWA Real Estate Company TRIBUNE NEWS NETWORK has announced the completion DOHA of the execution of the sale agreement of the plot of land THE foreign merchandise owned by Wahat Al-Riyadh trade balance of Qatar, which Real Estate Company, owned represents the difference be- by Barwa Group. tween total exports and im- The registration of the The headquarters of Barwa Real ports, showed a surplus of same to the buyer at the no- Estate Company in Doha. QR 19.6 billion, an increase of tary public in Saudi Arabia has about QR 13.3 billion or 213.4 been completed after fulfilling and the company incurred percent compared to July the terms and conditions of other amounts spent on land 2020, and an increase of near- the sale agreement and pay- development plans, in ad- ly QR2.6 billion or 15.5 per- ing the rest of the land price, dition to the financing costs cent compared to June 2021. where Wahat Al-Riyadh Real and expenses of the sale According to the prelimi- Estate Company received an transaction. nary figures of the value of amount of SAR712,380,097. Barwa estimated that exports of domestic goods, As previously announced, the net selling profit result- re-exports and imports re- the total sale price amounted ing from the transaction will leased by the Planning and to SAR742,380,100 exclud- amount to QR46 million. It Statistics Authority (PSA) for ing the real estate tax which is targeted that the sale price July 2021, the total exports was borne by the buyer, and will enhance the cash position of goods including exports the company previously re- of Barwa Group so that it can of goods of domestic origin ceived an amount of SAR30 meet its obligations and sup- and re-exports amounted to million as a deposit for the port the development plans of around QR27.5 billion, show- transaction. the Group as well. The Group ing an increase of 101.9 per- The Janadriyah land with affirmed that there is no con- cent compared to July 2020, a total area of 2,216,060 m2 flict of interests between the and an increase of 8.7 percent was purchased in 2016 with a contracting parties to this compared to June 2021. total value of SAR659,277,850 transaction. On the other hand, im- ports of goods in July 2021 amounted to around QR7.9 billion, showing an increase of 7.1 percent compared to July Total exports of goods from Qatar amounted to around QR27.5 billion in July this year. Real estate trade crosses 2020 and decrease of 5.3 per- cent compared to June 2021. bituminous minerals (crude) share of 15.8 percent of total ties, with QR 0.6 billion, show- In July 2021, China was QR265 mn in one week The year-on-year increase reaching QR4.4 billion nearly, exports, followed by South Ko- ing an increase of 0.2 percent. the leading country of origin in total exports was mainly increased by 92 percent and rea with almost QR3.88 billion In second place was ‘motor of Qatar’s imports with about THE volume of real estate trad- list of real estate traded for sale due to higher exports of petro- increase in the Petroleum oils & and a share of 14.13 percent, cars and other motor vehicles QR1.3 billion, a share of 16.6 ing in sales contracts registered included vacant land, hous- leum gases and other gaseous oils from bituminous minerals Japan with about QR3.87 bil- for the transport of persons’ percent of the imports, fol- by the Real Estate Registration ing, apartment buildings and a hydrocarbons like LNG, con- (not crude) reaching 2.9 billion, lion, a share of 14.12 percent. with QR0.29 billion, showing lowed by the United State of Department at the Ministry tower. Sales operations were densates, propane, butane and an increase of 146.8 percent. Year on year, the group an increase of 52.4 percent America with QR 0.9 billion of Justice during the period concentrated in the munici- others reaching QR16.1 billion In July 2021, China was of ‘turbojets, turbo propellers and in third place was ‘other almost, a share of 11.4 per- from August 15 to August 19 palities of Al Rayyan, Doha, Al approximately in July 2021, at the top of the countries of and other gas turbines; parts parts of aeroplanes or heli- cent, and United Kingdom reached QR265.758 million. Daayen, Al Wakra, Umm Salal, an increase of 105.9 percent, destination of Qatar’s exports thereof’ was at the top of the copters’ with QR0.26 billion, with QR 0.6 billion, a share THE weekly bulletin issued by Al Khor, Al Dakhira, and Al Sha- petroleum oils and oils from with close to QR4.3 billion, a imported group of commodi- an increase of 27.0 percent. of 7.8 percent. the department said that the mal. (QNA) Doha Bank constantly innovating to help fintech ecosystem grow in Qatar, says Seetharaman and firms in the financial space like credit Digital fintech redefining cards, online banking, and blockchain-pow- ered cryptocurrencies,” he said. Qatar: Doha Bank CEO “Fintech enable digital transformation in banks. It has compelled banks to level TRIBUNE NEWS NETWORK up their digital transformation and actively The QIB building in Doha. DOHA seek to implement the latest advancements. Roughly 85 percent of the fintech firms in FINTECH is redefining Qatar as the coun- MENA operate in the payments, transfer and QIB gets try is support entrepreneurs and innovators remittances sectors. Fintech firms in Qatar to make an impact within the domain both are focused on improving the customer expe- regionally and globally, Doha Bank CEO R rience by providing more accessible financial six awards Seetharaman has said. services,” he said. Speaking at the Qatar Fintech Summit Providing insight on investment trends from Global held recently, Doha Bank CEO R Seethara- in fintech, Seetharaman said, A“ ccording to man said, “As one of the leading commercial KPMG, Global fintech investment reached a Finance banks in Qatar, Doha Bank is constantly in- record $98 billion in the first half of 2021, novating and helping the FinTech ecosystem up from $87.1 billion in the same period in QNA grow in the country.” 2020. The UK saw a huge slice of cash in- DOHA “Doha bank is an active member of Qatar vested into fintech with$24.5 billion of fin- FinTech hub (QFTH), a Qatar Development tech investment in the first half of 2021. QATAR Islamic Bank (QIB) Bank’s fintech incubator since the begin- EMEA saw $39billion invested in the first six was awarded six prestig- ning. It is a key objective for Doha Bank to months. Venture capital investments in Qa- ious accolades at the Global support the transformation of the financial tari startups have surged by 182 percent in Finances 2021 Best Digital ecosystem in Qatar to achieve the vision set the first half of 2021 totalling RQ 31 million.” Banks Awards across two ma- by the Qatar Central Bank. That is why we About the overall global economic out- jor categories - the World’s value and appreciate the work conducted by look, he said, “According to IMF, the global Best Consumer Digital Banks QDB and QFTH in providing such impor- Doha Bank CEO R Seetharaman speaks at the Qatar Fintech Summit held recently. economy is projected to grow 6 percent in in the Middle East 2021, and tant programmes. We have previously built 2021 and 4.9 percent in 2022. Advanced the World’s Best Corporate/ customer-centric propositions leveraging on partner with a few of them and provide inno- ulators and has since expanded around the economies are projected to grow at 5.6 per- Institutional Digital Banks in FinTech collaborations,” he said. vative technology first solutions to our cus- region, with central banks in South Korea, cent in 2021 and 4.4 percent in 2022 respec- the Middle East 2021. “Our Digital Wallet, which has seen very tomers,” he said. Taiwan China, and Hong Kong SAR China tively. Emerging and developing economies In recognition of its out- high customer adoption and engagement, is Speaking on the topic ‘The Future of Mo- granting limited numbers of licenses. Sin- are projected to grow at 6.3 percent in 2021 standing retail banking of- a result of FinTech collaboration. Our face bile and Digital only Banking’, Seetharaman gapore has set up a digital banking license and 5.2 percent in 2022.” fering, QIB was named “Best and voice authentication on mobile bank- said, “Mobile banking and digital banking application process and Malaysia issued a About the impact of COVID-19 on the Consumer Digital Bank”, ing is another successful use case of FinTech will be felt in internet of things, blockchain draft licensing framework. Digital fintech global economy, he said, “2020 was an in- “Best Online Product Offer- adoption.
Load more

Recommended publications
  • 'The Wall That Heals' Hits Nahant
    MONDAY JULY 19, 2021 By Tréa Lavery Swampscott Conservancy ITEM STAFF SWAMPSCOTT — The Swampscott Conservancy is advocating for a ban on balloons in the town, saying that they have a detrimental effect on the airing out its case environment and on animals that may ingest them. In a post on the Conservancy’s website, President Toni Bandrowicz ac- knowledged that balloons are a bright and fun way of celebrating happy against balloons events, but asked residents to consider the negative impacts as well as the positive. “To protect nature in our neighborhood, perhaps it’s time for Swamp- scott to consider such a by-law — or at least a policy that bans balloons at town-sponsored events, on town-owned properties, or for any events requir- ing town approval,” Bandrowicz said. “The town should promote the use of non-disposable, reusable decorations for such events, not balloons and other single-use plastic decorations.” A handful of communities in Massachusetts have already enacted similar rules, including Chatham, Everett, Nantucket and Provincetown. In 2019, State Representative Sarah Peake of Provincetown introduced a bill that would ban “the sale, distribution and release of any type of balloon, includ- ing, but not limited to, plastic, latex or mylar, lled with any type of lighter BALLOONS, A3 Lynn, Revere and MBTA mapping out transit plan By Allysha Dunnigan ITEM STAFF The Massachusetts Bay Transporta- tion Authority (MBTA) announced its collaboration with municipal partners, including Revere and Lynn, for a series of bus priority projects that will construct up to 4.8 miles of bus lanes — and other pro-transit infrastructure upgrades — to improve bus speed and reliability as the region re-opens from COVID-19-related regulations.
    [Show full text]
  • Celebrate Literacy Day Celebrating Lynn Residents Salvation Army
    TUESDAY JULY 20, 2021 Celebrate Literacy Day Salvation Army throwing celebrating Lynn residents a back-to-school party By Allysha Dunnigan Alinsug — who is running for Ward 3 By Allysha Dunnigan garten through high school and their ITEM STAFF — and McClain — who is vying for an ITEM STAFF families are invited to attend this event, at-Large seat — have been chosen as the where they will also be able to receive LYNN — City Council candidates Coco LYNN — The Salvation Army is host- backpacks and school supplies, while 2021 Excellence in Literacy Leadership ing its third annual back-to-school bash Alinsug and Nicole McClain, along with supplies last. Award (ELLA) winners, while Thurston on Aug. 30 from 12 p.m. to 3 p.m. in its Lynn Museum Executive Director Do- Capt. Helen Johnson of the Salvation will receive the first-ever Untold Stories parking lot at 1 Franklin St. neeca Thurston, have been chosen by Army said the organization previously award. This event — which will occur rain or the Celebrate Literacy Day (CLD) group hosted events like this in Boston, but that The three recipients were nominated shine — will include a DJ, bounce house, it was a tough location for Lynn residents as this year’s recipients of their literary food and more. awards. LITERACY, A7 Public school students from kinder- PARTY, A7 Peabody and Salem program is schooling parents By Anne Marie Tobin ITEM STAFF PEABODY — Peabody Public Schools has received a $131,980 state grant, which the district will use to help parents and caregiv- ers prepare their children for early educa- tion.
    [Show full text]
  • California Gubernatorial Recall Election
    Official California Voter Information Gubernatorial Guide Recall Election Tuesday, September 14, 2021 Polls Are Open From 7:00 a.m. to 8:00 p.m. on Election Day! Certificate of Correctness I, Shirley N. Weber, Secretary of State of the State of California, do hereby certify that the recall information included herein will be submitted to the electors VOTE SAFE of the State of California at the CALIFORNIA Gubernatorial Recall Election to be held throughout the State on Every registered September 14, 2021, and that voter in California this guide has been correctly will receive a vote- prepared in accordance with by-mail ballot in the law. Witness my hand and the Gubernatorial the Great Seal of the State in Recall Election. Sacramento, California, this Learn more inside. 6th day of August, 2021. Shirley N. Weber, Ph.D. Secretary of State + You may request additional copies of the Official Voter Information Guide by contacting your county elections official or by calling (800) 345-VOTE (8683). + VOTER BILL OF RIGHTS YOU HAVE THE FOLLOWING RIGHTS: The right to vote if you are a registered The right to get help casting your ballot 1 6 voter. You are eligible to vote if you are: from anyone you choose, except from • a U.S. citizen living in California your employer or union representative. • at least 18 years old • registered where you currently live The right to drop off your completed 7 • not currently serving a state or federal vote-by-mail ballot at any polling place prison term for the conviction of a felony, in California.
    [Show full text]
  • 28 March 2021
    March 28, 2021 7 Screenland Reality Check By Adlan Jackson / 11 Talk Dr. Diane E. Meier By David Marchese / 14 The Ethicist Different Universes By Kwame Anthony Appiah / 16 Studies Show Coffee? By Kim Tingley / 18 Letter of Recommendation Biking at Night By Daniel Peña / 20 Eat Chicken-Meatball Hot Pot By Tejal Rao 22 In Search of a Lost Pastime 28 Face Time 36 Tracking the Covid Code By Rowan Ricardo Phillips / Major League Baseball By Vanessa Grigoriadis / How social media stars By Jon Gertner / Ultracheap DNA sequencing now wants to welcome Negro-leagues stats like Addison Rae (and her 78.4 million followers) could help end the pandemic — and reshape into its record books — but the numbers are just gave the cosmetics industry a makeover. the future of health care. a small part of what needs to be remembered. Josh Gibson, regarded in his day as ‘‘the Black Babe Ruth,’’ scoring during the Negro-leagues East-West All-Star Game at Comiskey Park in Chicago in 1944. Page 22. Photograph from Bettmann Archive, via Getty Images via Getty Archive, Bettmann from Photograph 4 Contributors / 5 The Thread / 10 Poem / 14 Judge John Hodgman / 19 Tip / 44, 45, 46 Puzzles / 45 Puzzle Answers Behind the Cover Gail Bichler, creative director: ‘‘Th is week’s cover story is about how the beauty industry has been transformed by social media stars like Addison Rae, whose over 78 million followers make her TikTok account the platform’s second-most popular. Rae is her own brand, so we designed a cover that refl ects her: splashy and irreverent.’’ Photograph by Paola Kudacki for Th e New York Times.
    [Show full text]
  • SMDP Back Issue 082021.Pdf
    COVID-19 in Schools FRIDAY Recall explainer The Health Department What is happening on is deploying specialized Sept. 14? resources. 08.20.21 Page 3 Volume 20 Issue 240 Page 4 Santa Monica students return to school Matthew Hall and Clara Harter SCHOOL: It was a busy day for students, parents and teachers yesterday with the start of the new school year. Officials are asking residents to be aware of busy streets as everyone adjusts to the new commutes. Council to discuss vaccine rules Open Main St. returns with an activity packed agenda and unlicensed pier vendors CLARA HARTER weekend with zeal and optimism. that they have a strong handle on SMDP Staff Writer OPA reported that from its own safety, organizers are ramping up CLARA HARTER L.A. City Council and the survey taken during the first Open programming for this weekend. SMDP Staff Writer County Board of Supervisors The car free Main St. experiment Main Street in July, 95 percent of There are nine musical have both passed slightly stricter is back for another trip around the respondents felt positive about the performances on the schedule City Council is returning with a mandates, only allowing employees block this weekend with a slew of pilot. SMPD officers who were on including acclaimed violinist Nick jam-packed agenda set to examine to opt for weekly testing if they can performances, fitness classes and scene to maintain traffic flows and Kennerly, Mocha Chai and the the noise ordinance, weaponizable demonstrate a legitimate religious kids activities set to take place in the pedestrian safety, reported that the Old Corn Lickers.
    [Show full text]