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BMI to launch its first overseas branch in Qatar
DUBAI — Bahrain based BankMuscat International (BMI) has announced that it had received a licence to set up its first overseas branch and operate at the Qatar Financial Centre (QFC).
The banking licence, issued by the Qatar Financial Centre Regulatory Authority (QFCRA), permits the bank to engage in regulated activities including providing and arranging credit facilities, accepting deposits and dealing in investments.
Announcing this new strategic initiative, Shaikh AbdulMalik bin Abdullah Al Khalili, Chairman of BMI said: "BMI is the first Bahrain-based Retail Bank to be granted authorisation by the QFC, and this is a significant achievement for us. BMI was set up with a vision to become a dynamic regional bank and with the planned launch of our first branch outside Bahrain we are well on our way to achieving it."
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