QNB Financial Services Becomes First Brokerage Firm in Qatar to Receive ISO 27001 Certificate for Information Security
QNB Financial Services (QNBFS), QNB’s fully owned subsidiary which provides a range of financial services to domestic and foreign institutional investors, mutual funds, high net-worth individuals and retail and corporate clients, became the first brokerage firm in Qatar to be awarded the latest international standard for the management of information security, ISO 27001:2013. The awarding of the certificate to QNBFS highlights its commitment to provide innovative and relevant solutions to maintain the security and integrity of its customers’ data.
Developed by the International Organization for Standardization (ISO), ISO 27001:2013 is a the leading global standard for information security. Organizations of all sizes in sectors including banking and finance, oil and gas, and business and government, adopt the ISO standards. In order to be certified, QNBFS fulfilled key requirements related to the establishment, maintenance and implementation of its information security management system. QNBFS also met ISO 27001:2013 requirements for the appraisal and handling of information security risks.
Commenting on the occasion, Adel Khashabi, Chairman of QNBFS, remarked that QNBFS places great emphasis on information security management systems and ensures that it is integrated with the organization’s processes, systems, controls and overall management structure. He hoped that these robust practices followed internally would give confidence to the various stakeholders that the security of assets such as financial information, intellectual property, employee details and information entrusted to it by them are guarded well.
Omar Rashid, General Manager British Standards Institution Group Middle East WLL - Qatar, congratulated QNBFS on this occasion and said the certification marked the beginning of a new journey for the financial institution. The ISO 27001:2013 standard provides a robust model for information security risk assessment and security design, implementation, and management. With its comprehensive approach that takes into account threats, vulnerabilities, and impacts, the standard helps to ensure the adoption of appropriate security controls that protect the information of the company, customers and other stakeholders.
As part of the certification process, QNBFS underwent a comprehensive assessment and implementation phase, in which a complete on-site audit was conducted by the British Standards Institute (BSI). Once certified, organizations are subject to a three year process, wherein their compliance is verified by yearly surveillance audits and a final re-certification audit at the end of the cycle.
As part of QNB’s commitment to fulfill its vision to become a Middle East and Africa (MEA) icon by 2017, QNBFS is committed to providing investment opportunities and solutions across diverse products and markets.