(Doha, Qatar – 22 March 2005) - Qatar General Electricity and Water Corporation (Kahramaa) and Qatar National Bank (QNB) have signed today an agreement whereby QNB is mandated by Kahramaa to collect cash twice daily from Kahramaa’s different locations in Qatar. The agreement is exclusive to QNB and the collection is to take place every morning and evening session from Kahramaa Customer Services Centers in collaboration with Group 4 Company.

The agreement was signed by Eng. Ahmed Al-Mohannadi, Kahramaa Customer Services Manager, and QNB’s Mr. Yousef Al-Naama, Senior Manager Corporate Marketing, during a press conference held today. Mr.Fahad Ali Buhindi, Kahramaa Chief Customer Accounts, and Mr. Osama Abdel Aziz, Kahramaa Chief Treasury Unit, also attended the conference.

“Kahramaa’s Customer  Services signed this agreement with QNB to ensure safe and secure transportation of revenues,” said Eng. Ahmed Al-Mohannadi, Customer services Manager, Kahramaa. “According to the agreement, QNB will collect the cash and cheques from Kahramaa’s Customer Services Center and deposit them in its bank account. These centers are Al Hilal, Khalifa City, Salwa and Post Office. Signing this agreement comes to develop our central treasury unit, which was supported by qualified and well-trained Qatari nationals to enhance its performance. The treasury units at service centers all over the country were equipped with the sophisticated hardware to detect money fraud.”

Al Mohannadi added that treasury units at service centers started to operate since 13 March 2005. They are open for 12 hours daily from early morning till evening to cater to the needs of all customers.

“Kahramaa has also developed The Customer Access System, Q-Matic, to facilitate quick payments by customers within maximum 3 minutes. The Customer Services Department enhanced the treasure unit with additional workforce during peak times to deal with the growing number of customers who pay their bills.“

Mr. Yousef Al-Naama, Senior Manager Corporate Marketing, QNB, said: “We are very delighted to be trusted by such a major Institution like Kahramaa to provide this service. Our cash collection service is unique in terms of methods, security, qualified staff and expertise. By signing this agreement, QNB enhanced its position as the market leader partnering with the major cash-generating Institutions in Qatar.”

Kahramaa will utilize QNB’s robust service in cash collection, which Kahramaa found as the only fast, secure and cost-effective service available in the market.  By outsourcing its entire cash and cheques collection, Kahramaa will reduce cost and time spent and will focus more on its core business. According to Yousef Al-Naama, QNB made considerable investment to strengthen its revenue collection service in terms of staff and technology. There is a growing need in Qatar today for such a specialized service of this type.

Al Mohannadi concluded by confirming that Kahramaa’s Customer Service Department will continue its commitment to provide the most suitable atmosphere to its valued customers. “The system we are applying today will make customers’ experience in bill payment more convenient, quick and easy. We always welcome any enquiries or suggestions from customers for further improvement.”