Doha Bank Inaugurates it’s Bangladesh Representative Office in Dhaka

Doha Bank Inaugurates it’s Bangladesh Representative Office in Dhaka

Doha Bank Q.S.C. inaugurated it’s Bangladesh Representative office on 8th December 2016. The inauguration ceremony was conducted in the evening in the presence of H.E. Ahmed Mohamed Al-Dehaimi, Qatar Ambassador to Bangladesh , Mr. Anis A. Khan, Managing Director & CEO of Mutual Trust Bank, Mr. Abdul Matlub Ahmed, President Federation of Bangladesh Chamber of Commerce & Industry (FBCCI) and CEOs and Senior Officials of Bangladesh Banks.

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On the occasion of the inauguration Doha Bank hosted a Grand Reception at The Westin Dhaka Hotel in Dhaka on the same day. The reception was attended by banking fraternity and other dignitaries in Bangladesh.

Dr. R. Seetharaman, CEO of Doha Bank Q.S.C. gave an insight to the current global economy scenario. He said “ The recent IMF outlook had given global growth of 3.1 percent in 2016. A more subdued outlook for advanced economies following the June U.K. vote in favor of leaving the European Union and weaker-than-expected growth in the United States. As a result, the 2016 growth forecast for advanced economies has been scaled down to 1.6 percent. Emerging and developing economies expected to grow by 4.2 percent this year.”

Dr. R. Seetharaman also gave an insight on the Bangladesh Economy. He said “The economy would grow at 7.2% in the current 2016-17 financial year. Bangladesh’s annual inflation picked up in September, driven by higher food prices to rose 5.53 percent. Bangladesh has done an impressive job in reducing poverty over the last decades and has the potential to end extreme poverty by 2030. To move to the next level and realise its goal of becoming a middle-income country by 2021 and overcoming extreme poverty by 2030, the country needs to sustain its economic and remittances growth, create more and better infrastructure and improving the quality of health and education.”

Dr. R. Seetharaman highlighted on the GCC- Bangladesh trade relationships. He said “GCC exports to Bangladesh is around $3 Billion and GCC imports from Bangladesh is around $0.5 Billion. Total trade is around $3.5 – $4 Billion. Bangladesh may grab considerable size of the huge market of the GCC economies under the FTA provided flexible and preferential tariff facilities are offered.”

Dr. R. Seetharaman gave an insight on the GCC – Bangladesh relationships also. He said “New avenues like Saudi investment in Bangladesh and its participation in Bangladesh’s national development have opened up opportunities. Saudi Arabia is keen to invest in Bangladesh’s infrastructure, communication and power sectors through the Saudi Public Investment Fund. UAE is one of the major foreign investors in Bangladesh with nearly $2.9 billion investment. UAE – Bangladesh trade exceeded $1bn. Both UAE and Bangladesh have ample opportunities for further boost trade relations and both ways investments. In May 2016 Kuwait Bangladesh agreed to cooperate in various fields and to expand the scope of the partnership in the fields of trade, investments, energy and power, defense, human resources, infrastructure and in the priority sectors in the Economic Zones under Bangladesh Economic Zone Authority (BEZA) and IT parks.”

Dr. R. Seetharaman highlighted on the Qatar – Bangladesh relationships. He said “Bangladesh is all set to import 500 million metre standard cubic feet per day of LNG from Qatar by 2018. There is potential of skilled and professionally qualified workforce in Bangladesh that can help Qatar in meeting its National Vision 2030 and in hosting the FIFA World Cup in 2022. Major export Item of Bangladesh to Qatar are Woven Garments, Knitwear, Textile, Leather and Jute products. Major import item of Bangladesh from Qatar are Live animals; animal products, Prepared foodstuffs, Mineral products, Plastics and rubber. ”