The year 2024 marked significant strategic milestones for Lesha Bank as we strengthened our position as a leading Shari’a-compliant investment bank. Building on the growth momentum and success of previous years, the Bank demonstrated the robustness of its business model, achieving substantial growth across both financial and operational metrics.
In 2024, we introduced new business pillars; Asset Management and Investment Banking Advisory. This segment has already started contributing to our growth, with even greater results anticipated in 2025.
Key milestones for the year included the acquisition of Bereke Bank, the successful exit from David Morris International, and the acquisition of five Boeing 777-300ER aircraft leased to a leading airline. Additionally, we acquired prime real estate properties in both US & Qatar and made co-investments in prominent education platform in the UK/Europe and leading payment integration technology firm, reinforcing our commitment to value creation and global expansion. Notably, Lesha Bank was also ranked among the top 30 asset managers in the GCC by Forbes Middle East.
Could you elaborate on Qatar’s financial sector stability, considering factors such as its substantial oil and gas wealth and commitment to economic diversification? How does Lesha Bank leverage this?
Qatar’s financial sector stability is underpinned by a combination of factors, primarily its substantial oil and gas wealth and its commitment to economic diversification.
Despite external challenges such as regional diplomatic tensions or fluctuating global energy prices, we believe Qatar’s financial sector remains robust due to its strong reserves and strategic economic planning.
Strong ties with global partners, particularly through liquefied natural gas (LNG) exports contribute to financial security. Qatar’s proactive approach to international investments and acquisitions also diversifies its economic base and financial risk.
These factors collectively support Qatar’s financial sector to position as a cornerstone of Qatar’s economic strength, potentially facilitating growth and stability.
What strategies has Lesha Bank implemented to adapt to global economic trends and technological advancements in the financial sector?
On the tech side, Lesha Bank has really focused on staying innovative and improving how we operate. By rolling out advanced digital tools and streamlining our processes along with Cloud based CRM and state of the art ERP solution, we’ve been able to offer better service to our clients and make our internal operations run more smoothly. We’re also committed to continuing the development of innovative financial products to try and meet the evolving needs of both local and global markets, all while sticking to Shari’a principles.
We’ve also built strong partnerships with some of the world’s top fund and asset managers to co-invest in unique opportunities across different regions and industries. These collaborations have been great for bringing in cutting-edge solutions and expanding the range of services we can offer.
Our sustainability efforts also made significant progress. A number of our U.S. based real estate investments earned LEED certifications, which are in line with global sustainability standards. On top of that, we saw improved ratings on the Qatar Stock Exchange’s Sustainability and ESG dashboard, which highlights our dedication to responsible investing.
What initiatives have been taken by Lesha Bank to strengthen Anti-Money Laundering (AML) measures within its operations and to align with Qatar’s financial sector goals in this regard?
Our organization emphasizes a strong culture of ethics, transparency, and integrity, led by the Board of Directors and Senior Management, who actively oversee compliance and AML/CFT performance. We have implemented robust AML/CFT policies aligned with QFCRA Rules, Qatari laws, and FATF recommendations. Adopting a Risk-Based Approach (RBA), we proactively identify and mitigate risks associated with our business, customers, and geographic connections.
Our AML/CFT processes are optimized for efficient investigations, streamlined onboarding, and comprehensive reviews. We maintain reliable control programs to ensure compliance. Embracing technology and innovation, we use client and transaction screenings while investing in people and their skills to leverage data effectively.
Regular training sessions are conducted for Board members, senior management, and employees across the Bank to enhance awareness of regulatory expectations and industry trends, reinforcing our commitment to combating money laundering and terrorist financing.
Lesha Bank finalized the acquisition of Bereke Bank in Kazakhstan. What are your objectives for this transaction and how do you envision Lesha Bank expanding its global footprint?
The acquisition of Bereke Bank is another cross-border deal concluded by the bank. We’ve also made a solid mark in the US real estate market by acquiring key properties over the past few years. Each of these moves was carefully planned to target cash returns during the investment period, with the added goal of seeing capital appreciation when we exit. On top of that, we’ve noticed a growing demand from our clients for global investment options. Our private equity team, with its global perspective, multi-disciplinary approach, and extensive network, allows us to seize a wide variety of opportunities across industries, geographies, and different stages of development worldwide.
Lesha Bank was named the first and only bank in Qatar to receive the ‘Great Place to Work’ certification for the second consecutive year. What role does talent development and employee engagement play in the Bank’s long term vision?
At Lesha Bank, we’re all about driving organizational excellence by empowering our employees. Developing their skills and competencies ensures our workforce is ready to adapt to changing market dynamics in trying to meet our clients’ evolving needs. Continuous learning is key for us—aligning individual growth with the Bank’s long-term strategic goals.
Employee well-being is equally important. We’re committed to fostering a positive and supportive work environment, which not only boosts satisfaction but also helps us retain talent and attract the best in the industry.
Achievements like earning the ‘Great Place to Work’ certification for the second consecutive year in a row really validate our focus on building a culture of inclusion, collaboration, and trust. It’s this kind of recognition that strengthens our reputation as an employer of choice.
Ultimately, our investment in people isn’t just about the here and now—it’s about creating sustainable value for all our stakeholders. Engaged and motivated employees directly contribute to client satisfaction and help drive the Bank’s growth.
What are Lesha Bank’s key priorities and strategies for the coming years, particularly in the context of maintaining competitiveness and driving continued growth in the Qatari banking sector?
We’re excited about the future as we expand our global presence and tap into promising markets through partnerships with top-tier fund and asset managers. This allows us to broaden our range of investment solutions, ensuring tailored options for eligible individual and institutional clients alike. These Shari’a-compliant investments are designed to deliver unique opportunities while helping us potentially maintain a competitive edge.
Our focus on diversifying investments across regions and asset classes is a key part of our strategy. This approach not only helps manage risks but also possibly enhances returns for our shareholders and clients, reinforcing our commitment to targeting long-term sustainable growth.
Even with geopolitical challenges in the region, we’re confident in the strength of our business model. Through strategic initiatives and a diversified approach, we aim to continue driving growth, creating value for our shareholders and clients, and contributing positively to Qatar’s banking sector.
