Businesses across Qatar have voted HSBC Bank Qatar the best bank for trade finance services in the 2022 Euromoney trade finance survey.
HSBC was also voted the number one bank in the same trade finance survey for Bahrain, Kuwait and Oman.
Elie El Asmar, Country Head of Commercial Banking in Qatar said: “This is a fantastic result for our Global Trade and Receivables Finance business and as the world’s leading trade finance bank, HSBC is ideally placed to connect Qatari businesses to trading partners around the globe. We continue to invest in the digitalisation of our products and services to make banking simpler, better and faster for our customers.”
HSBC’s Internet Trade Services executes more than 95 percent of HSBC’s transactions digitally in Qatar. In 2021, close to all client transactions were received by digital channels leading to a more efficient and refined process, which reflects the bank’s commitment in investing on digital solutions and powerful tools to help customers manage their most complex banking needs.
“The impact of COVID-19 has put an even greater focus on digital banking and greatly accelerated digital trade activity. Digital trade is not just about making the physical and financial supply chains more efficient but also about creating opportunities to boost business volumes on the back of those efficiencies,” said Sunil Veetil, Head of Global Trade and Receivables Finance for HSBC in the Middle East, North Africa and Turkey (MENAT).
