Global Governance and Corporate Governance are intertwined to Produce Gross Welfare to the Mass

Golden Peacock Global Award

Doha Bank, one of the prime and progressive banks in Qatar, has won this year’s prestigious Golden Peacock Global Award for Sustainability. This award is being bestowed upon Doha Bank for second consecutive year now. Mr R Seetharaman, Doha Bank’s Group CEO who delivered the Key note speech on “Corporate Governance and Sustainability Challenges”, received the prestigious award from Mr. Mark Hoban, Financial Secretary to the Her Majesty’s Treasury (The UK’s economics & finance ministry), at Global Convention 2011 which incorporated the 11th International Conference on Corporate Governance and 2nd Global Summit on Sustainability organised by the World Council for Corporate Governance, UK and the Institute of Directors, (India) on 13th October in London. Coco-Cola – USA, Unilever – UK and ONGC – India are the other global organisations who had won the award along with Doha Bank.

Mr. R. Seetharaman, while expressing his happiness on receiving the award said, “This clearly symbolizes Doha Bank’s sustainable growth, its affinity towards social welfare and consciousness and the manner in which it has sustained its position as one of the leading Banks in the State of Qatar. In addition to the sustainable growth in the business, Doha Bank has been prime mover in the area of corporate social responsibility like Green banking, Education & Health benefits and involvement in Social causes. Doha Bank’s functional model with Economic, Environmental and Social Initiatives, contributing towards the welfare of the public has always been a welcome approach towards a bright future”.

Earlier at the Global Summit, Mr. R. Seetharaman highlighted the global economic scenario. He stated that “There is a lack of Universal standards on Governance and hence Global Governance is the need of the hour. Global Governance and Corporate Governance are intertwined to produce Gross Welfare to the mass. In the current economic scenario, where Advanced economies have not yet fully recovered and Emerging economies growth is under threat. Sovereign downgrades have impacted Global financial institutions. Significant swings in Currencies were witnessed due to Crisis. US is working on Currency reforms against China. The Currency War could translate into a trade war.”

Mr. R. Seetharaman also highlighted the measures taken at G8 and G20 on financial sector reforms. He stated “Financial stability Board (FSB), IMF and Bank for International Settlements (BIS) are working on macro-prudential policy frameworks, including tools to mitigate the impact of excessive capital flows. Policy framework for systemically important financial institutions is underway. Regulation and oversight of shadow banking is under development. FSB and OECD are working on common principles on consumer protection and Risk disclosure practices on structured products. The Global financial architecture is undergoing a change with more powers being given to FSB’s resources and outreach”.

In line with Doha Bank’s Green Bank culture, it maintains a well defined Environmental Policy with the principles of “Reduce, Reuse & Re-cycle”. In the recent years, Doha Bank has supported the State of Qatar’s campaign on “Green Qatar Clean Qatar” drive, conducted seminars on Global warming in Qatar, Dubai, Abu Dhabi, Oman, Kuwait, Turkey, Tokyo, Nagoya, Singapore, Chennai & Mumbai, initiated an environmental alliance with UNESCO, developed dedicated Green Bank Website, launched environment-friendly & biodegradable Credit Cards, introduced Paperless Banking, formed Planet Savers Club, organized annual Al Dana Green Run & Public Awareness Campaigns through ATMs, initiated the eco-School programme, tree planting, beach clean-up and recycling activities – all this underlines the Environmental Sustainability of Doha Bank. Doha Bank also encourages its staff and customers to practice Green culture.

Doha Bank has reached out to the larger community through its long standing corporate social responsibility activities where it is committed to raise awareness on environmental issues. Its Green Quiz is part of this ongoing Corporate Social Responsibility program. As a part of its knowledge sharing initiative, Doha Bank has been in the forefront of hosting seminars on diversified topics ranging from business to social challenges where subject experts focus on the challenges facing the world and the region.

Emphasizing on Doha Bank’s sustainable growth it registered a net profit of QAR 1.01 billion for the 9 months period ending 30 September 2011, which represents a significant increase of 13% versus the corresponding period last year. Also for the nine months ended 30 September 2011 net interest income rose by 22.1%, Net operating income showed an impressive increase of 13.6%, Net loans & advances increased by 6.5% and deposits showing a growth of 7% compared last year 30 September 2010.

In the recent past, Doha Bank has also received “Bank of the Year 2011 in Qatar” by Arabian Business,”Best Commercial Bank in Qatar” from World Finance, and “World’s Best Trade Finance Provider in Qatar 2011” award from Global Finance. Doha Bank has also been awarded as “Asia’s Best Brand” by the CMO Council.

Doha Bank now has established a dominant position in Middle East banking landscape with 31 state-of-art branches, 7 Islamic branches, 6 e-branches, 13 pay offices, 2 mobile units in Doha, 1 mobile unit in Dubai with more than 100 ATMs. Geographically Doha Bank operations are spread across State of Qatar with full fledged branches in Dubai-UAE and Kuwait, and representative offices in Turkey, Japan, Singapore, China, S Korea, United Kingdom, Germany and Abu Dhabi with an extremely strong network of correspondent banking relationship.