Qatar’s Al Rayan Bank announced today, Monday, the successful completion of the procedures for merging the operations between it and “Bank Al Khaleeji” after completing the legal merger process on the first of last December.
Al Rayan said in a statement to the Qatar Stock Exchange: “Starting today, all banking operations have been grouped into one platform, and customers have received their new account numbers, credit and debit cards engraved with the Rayan bank logo.
Al Rayan Group CEO, Fahd bin Abdullah Al Khalifa, commented, “We are pleased to announce the successful completion of the process of integrating operations under one seamless platform. This will help us add flexibility to our business, improve efficiency, and enhance our products and services to our dear customers. The legal merger took place on December 1, 2021, and within a short period of no more than 6 months, we were able to complete the procedures for the merger of operations.”
And last June, the Qatar Financial Markets Authority approved the merger of Al Rayan and Al Khaliji Bank.
Al Rayan announced earlier this month that profits amounted to $506 million in the first quarter of this year.