Doha Bank & PAMP signed a Memorandum of Understanding yesterday afternoon at the Doha Bank tower, Westbay. After the successful “Launch of the Bullion initiative” by Doha Bank earlier this year, Doha Bank has taken the next step forward to establish a strategic alliance with PAMP. Doha Bank being one of the largest private banks in Qatar has once again diversified to broaden its range of products and services.
Doha bank recently has been very innovative with different variants of Gold products. To start with Doha Bank introduced “Gold Investment Loan” followed by “Go to Gold” selling physical gold bars in sizes from 5 grams to Ten Tola bars over the counter and finally “Loan against Gold”. Realizing Dubai as the hub for of Gold supplies in the region Doha Bank has planned to set up a bullion desk in our Dubai office to cater the local wholesalers/jewelers based in Dubai and eventually to become a bullion financer for the local market in Dubai.
PAMP is the world’s leading bullion brand, with dominant position in Kilo bars, TT bars and Investment bars. Established in 1977 and the refinery is located in Ticino, Switzerland, PAMP operates a state-of-the-art precious metals refinery. PAMP has led the industry forward by introducing many breakthrough products and services, which have become market practices. PAMP enjoys a dominant 75% market share across the globe in the investment bar category with a wide product range from 1 gram to 100 gram. PAMP is an integral part of the Geneva based MKS group, a leading global precious metals refining and trading group with offices in 12 countries across 4 continents.
PAMP Gold, Dubai, CEO, Ravi Prasad, said, “PAMP is the World’s No 1 Consumer Investment bar. Doha Bank and PAMP share a common enduring vision – Provide the Customer the very best product offer and willingly run the extra mile to provide the best service offer. We are committed to a long term relationship with Doha Bank and we will contribute actively to achieving their objective – to become a significant player in the gold trade in this region”
Doha Bank Group CEO Dr. R. Seetharaman at the ceremony said, “Doha Bank has always realized the importance of the changing market dynamics and has led with innovation to serve a broader base of customers. The strategic alliance with PAMP is a step forward to lead from the front and become a one stop bullion solution provider not only in Qatar but in the region”.