The International Chamber of Commerce officials during the Banking Commission meeting at Qatar Chamber headquarters.
The International Chamber of Commerce (ICC) Qatar held a Banking Commission meeting at Qatar Chamber headquarters recently with the participation of Trade Finance and Legal experts from most of the national banks operating in Qatar.
The meeting discussed the final version of the Demand guarantee letter in preparation for submission to the Central Bank of Qatar for adoption.
ICC Qatar said that the final wording of the Demand guarantee letter was based on the rules of the International Chamber of Commerce for Security Letters (URDG 758), considering international laws and practices in this regard.
The meeting was chaired by Ghassan Azar, Vice Chairman of the ICC Qatar Banking Commission. He stressed that the ICC Qatar Banking Commission is always keen to adopt best practices related to the banking industry.
He emphasised that this meeting with Bank guarantee and legal experts of national banks operating in the country aimed at finalizing the draft letters of credit and bank guarantees before submitting them to the Central Bank of Qatar.
Azar expressed his thanks and appreciation to Sheikh Khalifa bin Jassim bin Mohammed Al Thani, Chairman of Qatar Chamber and the International Chamber of Commerce Qatar, for his continuous support to the Banking Commission. He also thanked Sheikha Tamader Al Thani, Director of International Relations and Chamber Affairs of ICC Qatar, for her efforts in developing the work of the Commission.
Qatar Central Bank is scheduled to hold a meeting with representatives of national banks operating in Qatar to discuss the Demand guarantee letter, with the participation of International Chamber of Commerce Qatar (ICC Qatar) and representatives of Qatari companies.
