Industrial & Commercial Bank of China granted license to establish an office in Qatar.

February 4th, 2008

Industrial & Commercial Bank of China （“ICBC”）has announced that it has been authorised by the Qatar Financial Centre Regulatory Authority to operate a full branch from the Qatar Financial Centre.

Jiang Jianqing, Chairman of ICBC, said: “We are delighted to have received our license from the Qatar Financial Centre.

This is the first time a Chinese bank has established operations in the Middle East, which is an evidence of our continued commitment to supporting the growth and development of our clients interests in the Middle East.”

Stuart Pearce, CEO & Director General of Qatar Financial Centre Authority, said: “We are very pleased to welcome Industrial & Commercial Bank of China as a licensed firm and see their commitment to Qatar as evidence of the growing trade between China and the Middle East and a further endorsement of the high standard legal and regulatory environment we have created with the QFC.

“We expect the presence of Industrial & Commercial Bank in Qatar to support further growth in the relations between Qatar and China and to also significantly stimulate new public and private sector investment initiatives in Qatar.”

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