State Street and QNB Group sign strategic agreement to launch new custody servicing model

Davos: State Street Corporation and QNB Group today at the World Economic Forum (WEF) announced a strategic alliance to introduce a new custody servic...

Davos: State Street Corporation and QNB Group today at the World Economic Forum (WEF) announced a strategic alliance to introduce a new custody servicing model in Qatar.

Under this co-operation agreement, State Street and QNB Group have agreed to collaborate, with service agreements to be finalized and executed at a later date.

In the presence of HE Qatar’s Minister of Finance Ali bin Ahmed Al Kuwari the co-operation agreement was signed during the WEF currently held in Davos, Switzerland, marking a significant milestone in State Street’s ongoing expansion within the Gulf Cooperation Council (GCC) and supporting QNB’s accelerating international growth.

This step reflects the strong market leadership of QNB Group, Qatar’s largest financial institution and a recognized leader in regional custody and asset‑servicing capabilities.

The agreement will also strengthen QNB’s role as the country’s most trusted provider of local market access, regulatory expertise, and institutional‑grade safekeeping, as well as State Street’s market position in Qatar.