Barwa Bank, a leading bank in Qatar, has announced its rebranding into Dukhan Bank, effective October 2020.
The bank is eyeing a fully digital infrastructure that delivers on operational efficiency and profitability, as well as on secure, simplified and seamless banking experience for its customers.
The rebranding also reflects a shift in the bank's mindset toward product and service innovation; guided by the mission to empower people in solving their everyday problems and planning for their financial present, rather than for their distant future.
The bank's new name takes after the Dukhan city, West Qatar, the site of the first substantial oil reserve to have been discovered in the country; a milestone discovery that has laid the foundations for Qatar's economic and social growth for over eight decades.
Sheikh Abdulla Bin Saoud Al-Thani, Governor of Qatar Central Bank, said: "We're glad to witness the birth of this new emblem and journey. Best wishes to our brothers in the Board of Directors, the Executive Management as well as the depositors and shareholders. We wish for the bank prosperity and progress at these particular times that are filled with challenges in the banking and economical fields."
Sheikh Mohammad Bin Hamad Bin Jassim Al Thani, Chairman and Managing Director at Dukhan Bank, said: "Today, we celebrate the unveiling of our new brand which goes beyond a mere change in name but, rather, acts as the turning point of a new beginning which stems from a firm belief in continuous innovation despite all challenges. It means to have a new mindset that keeps pace with the folds of our present and fulfils our commitment to meet our customers and stakeholders' aspirations in the future."
The rebranding announcement comes nearly a year after the official completion of the legal merger between Barwa Bank and ibq. The merger, the first ever in Qatar's history, brought two of the nation's leading and most dynamic financial players under one roof, establishing a powerhouse Shari'ah compliant financial institution backed by robust liquidity and solvency levels.
Prior to its rebranding as Dukhan Bank, the consolidated entity continued to operate under the name of Barwa Bank following the completion of the operational merger. – TradeArabia News Service
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