Posted on October 31, 2019

Qatar Islamic Bank (QIB), has been recognized as “Best Islamic Project Finance Provider” in the world for its project finance expertise as well as the “Best Islamic Financial Institution in Qatar”, and “Best Islamic Financial Institution – Sudan”, by the New York-based Global Finance Magazine.

QIB continues to win prestigious awards, which confirms its leading position in financial markets locally, regionally and internationally. The bank received the prestigious titles during the awards ceremony of the recently concluded annual meetings of the IMF and the World Bank, which took place in Washington, USA. All selections were made by the highly professional team of Global Finance, after extensive consultations with bankers, corporate finance executives and analysts throughout the world. The quantitative criteria considered for the awards included scope of global coverage, size of staff, strategic partnerships, customer service, risk management, range of products and services, execution skills and smart use of technology.

Commenting on the awards, Mr. Bassel Gamal, QIB's Group CEO, said: “We are happy with the global recognition our Bank is receiving which reflects that over the past few years we are consistently outperforming the market, strengthening the relationship with our customers and providing positive results to our shareholders. Adding these prestigious awards, some of which are for the third consecutive year, to our portfolio is a testament to the team’s hard work, and our dedication to delivering innovative products and services tailored to our customers’ needs. A key factor contributing to our success is the growth of the Qatar’s national economy and its banking sector. Our strategy is closely tied with Qatar’s National Vision 2030 and the Government’s commitment to invest in the country’s infrastructure, the diversification of the economy and the development of a strong private sector.”

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QIB’s growth strategy is built on its position as a leading Bank with deeply rooted customer relationships and strong engagement with the local communities. As a part of the Bank’s commitment to its customers, QIB is focusing on enhancing their banking experience through the implementation of innovative banking solutions offering a comprehensive set of products and services which cater to customers’ banking needs. QIB demonstrated steady financial growth for the past years and has been setting a benchmark for the Islamic Financial Industry by introducing innovative Sharia compliant financial solutions. The Bank has a customer-centric approach to enhance the overall banking experience offered through its modern branch network and by leveraging financial technology and digital tools.

Since 1982, QIB has been an active contributor to Qatar’s banking industry and has been the recipient of internationally acclaimed banking awards. In the last nine months of 2019, the Bank achieved a net profit of QR 2,215million, representing a growth of 10.5% over the same period in 2018. Total Customer Deposits stand at QR 107.8 billion registering a growth of 7.1% compared to December 2018 and total Financing reached QR 106.6 billion having grown 6% from December 2018.

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