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Doha Bank to open office in South Africa

Doha Bank is opening an office in South Africa. The bank’s chief executive Dr R. Seetharaman, said a South African presence for the bank would facilitate a greater understanding of the broader African market. He added that the bank’s aim was to support bilateral trade between South Africa and Qatar, the broader United Arab Emirates and India, where Doha Bank has operations. The bank says its long-term strategy is to gain an understanding of the local market and then, with the approval of the South African Reserve Bank, convert the office into a full-scale banking operation. Doha Bank has branches in Dubai, Abu Dhabi, Kuwait and India. The South African office is the 12th representative office, including others in the United Kingdom, Germany, Singapore, China, Australia and Canada.

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