CQUR Bank LLC is involved in developing ESG guidelines for Qatar

March 4, 2024

Hussam Alkokhon, the head of Trade Finance at CQUR Bank, was appointed Chairman of Customs and Trade Facilitation Commission (CTFC) of the International Chamber of Commerce (ICC) Qatar. The commission's first meeting in 2024 was held yesterday in Doha.

CTFC is a specialized working group of experts who address significant issues to improve the business climate in Qatar. The commission aims to promote simplified customs and transportation policies and procedures and other practical measures that facilitate international trade. It also encourages the development of efficient and competitive transport markets worldwide, focusing on Qatar.

Experts discussed three main topics. First, the implementation and adaptation of World Trade Organization Harmonized System Codes. Second, the implementation of the United Nations Commission on International Trade Law's (UNCITRAL) Model Law on Electronic Transferable Records (MLETR) in Qatar. Hussam Alkokhon stated, “The topic carries significant importance for several reasons, such as facilitation of cross-border trade, enhanced security and integrity, and support for digital economy growth.”

Lastly, the experts discussed Environmental, Social, and Corporate Governance (ESG) guidelines in Qatar. CFTC agreed on the importance of commitment to ESG principles for developing trade and finance in the country. They also agreed to work on proposals to enhance the country's policies in this field.

Hussam Alkokhon said, "ESG considerations have become increasingly significant in the global financial landscape, reflecting a growing recognition of the importance of sustainability, ethical practices, and corporate responsibility in investment decisions. As Qatar aims to align its financial sector with international best practices and uphold its commitment to sustainable development, the involvement of ICC in crafting ESG guidelines is significant, and we are glad to provide our expertise to move forward on this agenda".

About CQUR

CQUR Bank is a privately owned financial institution that offers a comprehensive range of financial services to a diverse client base with business connections in the MENA region. CQUR's headquarters are located in Doha. The bank is authorized by the Qatar Financial Centre Regulatory Authority - License number 00622. The cornerstones of the bank's business approach are customized solutions, individual attention to each client, and ease of access to decision-makers. CQUR was established in 2019, but its present story began in 2022 when it was acquired by a consortium of private investors from the Middle East. The new strategy initiated a turnaround transformation of CQUR. It refocused the bank’s service to transactional banking, trade finance, and treasury solutions to meet the needs of clients working in the GCC and MENA regions.

Hussam Alkokhon, the head of Trade finance of CQUR, is a trade finance expert with 19 years of professional experience in international trade between Jordan, UAE, and Qatar. He holds a bachelor's degree in Banking and Finance Science from Philadelphia University and a professional certification as a CDCS (Certified Documentary Credit Specialist) from London Institute for Banking and Finance and CBE (Certified Blockchain Expert) from Blockchain Council. Hussam joined the team at CQUR in April of 2023. He is focused on developing trade finance products to meet the needs of CQUR's clients.