MANAMA, 31 January 2003 — United Gulf Bank (UGB) of Bahrain, the investment banking arm and subsidiary of Kuwait Projects Company (KIPCO) and Doha Bank of Qatar have announced the formation of an alliance for UGB and its subsidiary, KIPCO Asset Management (KAMCO), to provide Doha Bank with technical services in corporate finance, project finance and asset management.
William Khouri, UGB chief executive officer, said: “This alliance is a strategic regional move for UGB and an opportunity to become closely involved in the growth and opportunities of the Qatari market with a leading bank. We are confident that our experience and expertise will form the basis for a mutually rewarding alliance.”
Salah M. Jaidah, general manager of Doha Bank, said, “The signing represents a major step toward enhancement of our investment banking resources, and in expanding services to the Qatari market and the bank’s customers.”