Finance

Modern Solutions

Thanks to Commercial Bank Financial Services (CBFS) and its “CBFS Trade” app, almost everyone can now trade Qatari stocks or bonds, manage their portfolio, and enjoy low-risk steady revenue using nothing more than a smartphone.

The Commercial Bank of Qatar—often simply referred to as the Commercial Bank—has provided a wide range of banking services to its customers over the years, always trying to stay ahead of the pack in the GCC.

A passing look at the services provided by the Commercial Bank shows how much thought has been put in designing specific banking services, which suit the local and expat population of the country.

Given Qatar’s appeal as an investment market with huge growth opportunities, the Commercial Bank in 2011 launched a new subsidiary, Commercial Bank Financial Services (CBFS), which specialized in providing investment services.

CBFS is essentially a brokerage house, but as it is wholly owned by the Commercial Bank and has a paid-up capital of USD190 million, it is more dependable than most players in the market.

As a brokerage house linked to a major bank and a member of Qatar Stock Exchange, CBFS has been successful in developing unique asset management and asset accumulation products. In terms of equity, CBFS enables its users to digitally build a truly fluid portfolio.

CBFS simplifies the trading of equities through its user-friendly and safe portal. “We ensure that our customers are well informed and at an advantage over other investors by providing various trading reports and market pointers, as well as daily updates about news related to stocks and economy,” points out CBFS.

Another key feature is an emphasis on digitalization. As of 2022, most services are accessible online with nothing more than one’s full name, a valid phone number, and their QID—a distinct national ID number issued for all Qataris and temporary residents. In order to register for stocks and bonds trade, meanwhile, an “account opening form” is available for download that can be filled out at leisure and then submitted to any branch of the Commercial Bank.

The Commercial Bank and CBFS took a digital turn well ahead of the pandemic, although their strong digital infrastructure greatly helped ensure continue their business as usual in 2020-2021. The bank had won a “key digital award,” for “Best Use of Digital in the Financial Services Sector,” according to The Peninsula back in 2013. And now, after just under a decade, the CBFS Trade app is receiving many positive reviews.

CBFS is similarly proud of its achievements in terms of digitalization. Roughly 50% of CBFS’s interaction with its clients takes place through digital channels such as their award-winning app. The app allows CBFS clients to freely to trade on the Qatar Stock Exchange or buy and sell bonds and treasury bills.

The majority of clients who install the CBFS Trade app have a very clear objective: they want to have a reliable stream of income through their portfolio. CBFS helps its users to ensure their “fixed income” with the timely diversification of portfolios and creating a foolproof mix of assets.

Aside from stocks, bonds issued by large companies—or preferably the government—can promise good interests to investors, as well as a full repayment upon the bond reaching maturity. CBFS offers a mix of Qatari bonds.

Following the success of CBFS’ products such as its online trading app, its margin trading product (which remains unique in Qatar), its portfolio management solutions, and its fixed income scheme, among many others, the institution is working on several new financial products including “Liquidity Provisioning, Market Making, Investment Advisory.” Above all, however, CBFS hopes to attract the local population—and especially the younger generation—to the financial services industry through interesting and user-friendly packages.

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