“My Focus is on Client Relationship and Financial Solutions”

Business Banks Companies Interview Regional
Global Business Magazine
April 17, 2025
11 minutes read

Qatar’s banking sector is booming and has the presence of several global banking and non-banking financial institutions driving the industry’s growth. Taking part in this journey has been Japan’s MUFG Bank, which has been operating in the country for several years.

To further consolidate its position, MUFG Bank has recently appointed Zaeem Khan, who has been working with the organisation since 2009, as General Manager & Head of MUFG Bank, Doha Office to oversee its operations in Qatar recently.

In an exclusive interview with Global Business Magazine, Zaeem Khan discusses about the prospects, priorities and plans to further develop MUFG Bank in his new role.

Congratulations on your appointment as General Manager and Head of MUFG Bank’s Doha office. Can you share a bit about your professional journey and what led you to this role?

Thank you. It has been an incredible journey with MUFG since I joined in 2009. Over the years, I have had the privilege of working across various roles in corporate and investment banking, which has given me a deep understanding of the bank’s global capabilities and regional operations.

My previous role as Head of Corporate Coverage allowed me to work closely with our clients in Qatar, helping them navigate financial opportunities in an evolving economic landscape. This experience, combined with MUFG’s commitment to the region, has positioned me well to take on this new leadership role.

Tell us about Mitsubishi UFG Group’s (MUFG) activities in the Europe, Middle East and Asia (EMEA) region?

MUFG EMEA (Europe, Middle East and Arica) is part of Mitsubishi UFJ Financial Group, Inc. (MUFG), one of the world’s leading financial groups. MUFG has been present in the EMEA region since 1920 and now operates in over 28 locations, employing circa 4000 people.

MUFG EMEA offers corporate banking and securities services to clients across a range of sectors including aviation, infrastructure, energy and emerging markets. As part of MUFG Group, MUFG EMEA contributes to the aims to being “the world’s most trusted financial group” through close collaboration among our operating companies and flexibly responding to the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world.

What are your key priorities for MUFG Bank in Qatar under your leadership?

My primary focus is on strengthening MUFG’s presence in Qatar by deepening our client relationships and expanding our financial solutions to support both local and multinational businesses.

Qatar’s economy is dynamic and offers significant opportunities across various sectors, including infrastructure, energy, and technology. Qatar is also increasingly acquisitive outside of the region and MUFG has a strong global network, and my goal is to leverage that expertise to provide tailored financial solutions that align with Qatar’s economic ambitions and Vision 2030.

What opportunities do you see in the Qatari market, and how does MUFG plan to capitalise on them?

MUFG has a proud history in Qatar. The bank was involved in the financing of the first LNG train in Qatar in the 1990s. Since then, MUFG has played a key role in financing mega projects in Qatar in key sectors such has energy, transportation, financial sector and telecommunications.

Qatar continues to present significant opportunities, particularly in sectors such as energy, infrastructure, and technology. The country’s ongoing diversification efforts are driving growth across various industries, and MUFG is well-positioned to support businesses in these areas.

We are committed to facilitating international trade and investment, connecting Qatari businesses with opportunities across our global network.

Additionally, we are exploring new avenues in sustainable finance, aligning with Qatar’s commitment to environmental and social governance (ESG) principles.

For example, in September 2024, MUFG EMEA and Doha Bank closed the first Green Repo scheme in the Middle East and North Africa (MENA) region. The transaction marked the first Green Repo scheme for both institutions that utilises green bonds as the underlying collateral.

What products/services/initiatives does MUFG offer its customer base in Qatar?

As a leading global debt house, we offer our clients the reassurance of being one of the world’s largest financial groups, underpinned by our substantial balance sheet and world-wide network. Our expertise spans many sectors, from project finance, to aviation, structured solutions and debt capital markets. With this, and our global reach, we can leverage our capabilities to support local and multinational companies with their bespoke financing needs.

How is MUFG adapting to global financial trends and challenges within the Qatari market?

The financial industry is evolving rapidly, with digital transformation, regulatory changes, and sustainability becoming key areas of focus. MUFG is investing in digital banking solutions to enhance efficiency and provide seamless financial services to our clients. We are also actively integrating ESG considerations into our business strategy, ensuring that we support sustainable development while maintaining robust risk management frameworks.

What are the challenges and opportunities for GCIB in the Middle East, especially in the GCC region, whose economies remained unscathed despite regional and global tensions?

The GCC region’s pragmatic approach in balancing global and regional conflicts, while focusing on economic diversification, is commendable and positive for businesses in the region.

We believe the region’s large-scale transformation is just beginning, with significant opportunities in energy, digitalisation, transport and logistics. We acknowledge that current global investments in renewable energy are insufficient for achieving net zero, and investments in fossil fuels are also inadequate to bridge the gap.

This underinvestment supports higher hydrocarbon prices, strengthening the region’s sovereign wealth funds. Overall, growth is driven by rapid diversification, with low debt, strong public finances, solid balance sheets, resilient creditworthiness, and easy access to debt capital markets.

Can you elaborate on MUFG’s commitment to sustainability and corporate social responsibility in Qatar?

Sustainability is a core pillar of MUFG’s global strategy, and we are committed to supporting Qatar’s sustainability goals. We are focused on financing initiatives which support helping clients’ transition to more sustainable business models. For example, MUFG EMEA participated in the first green loan for Qatar Investment Authority which saw them raise USD 5 billion from the global debt market in 2023. Additionally, we actively engage in corporate social responsibility efforts, contributing to financial literacy programs, community development, and initiatives that foster economic growth in Qatar.

How do you see MUFG Bank contributing to Qatar’s Vision 2030?

Qatar’s Vision 2030 aims to transform the country into a knowledge-based, diversified economy, and MUFG is fully aligned with this vision. Our role is to support economic growth by providing financial expertise and capital to key industries that drive diversification. Funding initiatives, such as our first Green Repo transaction with Doha Bank, help in raising liquidity to invest into ‘Green eligible’ collateral that act as a bridge in achieving our sustainability targets in line with Qatar National Vision 2030. Whether it’s financing infrastructure projects, facilitating cross-border investments, or offering advisory services, MUFG is committed to being a long-term partner in Qatar’s economic journey.

(Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,000 locations in more than 40 countries.

The Group offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. It aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges).