Signing of MoU Between QNB Kesawan and INDOSAT
Web Posted on : Thu, 19 Apr 2012
Jakarta, April 19, 2012 - QNB Kesawan and INDOSAT (telecommunications network and service provider) concluded a Memorandum of Understanding (MoU) which set forth the terms of cooperation between the two institution in relations to strategic partnership for mutual benefit.
In accordance with the memorandum of understanding, signed between the two institutions, QNB Kesawan Bank and INDOSAT agree to commence in good faith discussion and explore the potential business between each Party including : Deposit Placement; Loan Provision; Collection Agent for INDOSAT service; Issued of Bank Guarantee; Payment Services; Valas Transaction (Spot, Tod, Tom); Swap and Derivative Transaction; Dealer and Supplier Financing; Koperasi INDOSAT Member Financing and Other Banking Services.
QNB Group's continous strong performance, the Bank was recently named one of the World's 50 Safest Banks and one of the Safest Bank's in Middle East, according to the latest updage published by Global Finance in April 2012. QNB Group is rated the number 1 brand in the MENA (Middle East and North Africa) region, with a world ranking of 114, of the world top 500 banking brand, from 189 in 2011.
Established in 1964 as the first Qatari owned BANK, QNB Group has its ownership split (50%) between the Government of Qatar via Qatar Investment Authority (QIA) and the public. The largest bank in Qatar, QNB is listed on the Qatar Exchange (QE).
QNB Kesawan Bank, formerly known as NV Chunghwa Shangyeh was established in Medan in 1913. With almost 100 years of banking experience in Indonesia, the bank strengthend its capital through Right Issue 2011 which makes QNB (Qatar National Bank) the major shareholder with 69.59% ownership.