The Investment Promotion Agency Qatar (IPA Qatar) and Credit Suisse jointly announced the signing of a Memorandum of Understanding (MoU) today that aims to further bolster the financial services sector by accelerating the business growth of Credit Suisse in Qatar, and the wider Middle East region.

According to the terms of agreement, IPA Qatar will support the Swiss bank in deepening its onshore footprint in the market. Additionally, the MoU entails the establishment of a Global Technology Innovation Centre in Doha, which will act as a repository of knowledge, and as a resource pool for multiple business areas within Credit Suisse. The centre is expected to develop local talent, and support innovation research and development through specialized programmes.

The new partnership also paves the way for future collaborations between IPA Qatar and Credit Suisse across other fast-growing sectors, such as financial technology, and significantly expand its footprint in Qatar to serve regional and international markets. 

In the presence of H.E. Mr. Ali bin Ahmed Al-Kuwari, Minister of Finance, H.E. Sheikh Mohammed bin Hamad bin Qassim Al Abdullah Al-Thani, Minister of Commerce and Industry and Chairman of IPA Qatar, and Sir Antonio Horta-Osorio, Chairman of the Board, Credit Suisse AG, the MoU was signed by Sheikh Ali Alwaleed Al-Thani, CEO, IPA Qatar and Thomas Gottstein, CEO of the Group, Credit Suisse. The signing ceremony was attended by Yousuf Al-Jaida, CEO, Qatar Financial Centre (QFC); Eric Varvel, Chairman of the Board, Credit Suisse Qatar; Bruno Daher, CEO Middle East, Credit Suisse AG; Aladdin Hangari, CEO, Credit Suisse Qatar and CEO, Aventicum Capital Management; and Patrick D'Amico, Strategic Client Partner, Credit Suisse AG.

Operating in more than 50 countries around the world, the Credit Suisse Group has been actively expanding its operations in Qatar since their branch launch in 2006 via the Qatar Financial Centre (QFC) platform.