SMBC to open office in Qatar Financial Centre, Doha
Sumitomo Mitsui Banking Corporation (SMBC) announces that its application to open an office in the Qatar Financial Centre (QFC) in Doha, Qatar was approved by the QFC on 8 March, 2008. SMBC is the first Japanese bank that has been granted a license by the Qatar Financial Centre Regulatory Authority.
SMBC will take the necessary steps to commence its activities in Qatar.
SMBC has been strengthening its position in the Middle East through energy-related project finance, shipping finance, and syndicated loan transactions for both corporate clients and financial institutions. It also opened a branch in Dubai in March 2007 to enhance its network in the Middle East, which already comprised three representative offices located in Bahrain, Tehran and Cairo.