Posted on September 19, 2018

Qatar Islamic Bank (QIB), Qatar’s leading Islamic Bank, received two awards from New Age Banking & Finance Awards 2018, as part of the 7th edition New Age Banking Summit Qatar which was supported by Qatar Central Bank, and Qatar Financial Center Regulatory Authority (QFCRA). QIB was recognized through two awards, “Best Islamic Bank in Qatar” and “Excellence in Mobile Banking”.

The Annual New Age Banking Summit is a knowledge-sharing platform that highlights challenges and opportunities facing the banking industry in the region. QIB’s Group Chief Risk Officer, Mr. Rakesh Sanghvi, participated as a panelist and shared his expertise and knowledge on the banking industry and the evolving financial ecosystem in the digital age. Commenting on the awards, QIB Group CEO Bassel Gamal stated: “We are pleased to be recognized for our efforts and performance. QIB is committed to serving the Qatari community and offering Shari’a compliant products and services that empower our customers and evolve with the fast-paced digital developments in the industry.” He added “We will continue to seek innovative and creative solutions to meet the various needs of our customers.”

Best Islamic Bank in Qatar

The prestigious award recognizes QIB’s steady growth and impact on the Islamic banking industry in Qatar as well as reflecting the Bank’s leading financial performance where it currently holds a 42.3% share of the Islamic banking sector and approximately 11% of the total domestic banking sector in Qatar. Within the first half of 2018, the Bank achieved a net profit of QAR 1,325.3 million, representing a growth of 13.8 percent over the first half of 2017.

Excellence in Mobile Banking

QIB was awarded for their innovative Mobile App, designed to meet the ever-changing needs of its clients. The prestigious award marks QIB’s continuous efforts for introducing convenient solutions to meet the various needs of its customers. QIB’s Mobile App has been tailored to minimize the need for customers to visit the Bank, allowing them to access QIB’s products and services instantly and conveniently.

Since last year, QIB has introduced several new innovative features to its mobile banking app helping customers manage their money quickly and easily. With the convince of the QIB’s Mobile App, customer can view their overall net-worth, create and manage beneficiaries for local and international transfers, enable card-less transactions (e-cash), activate magnetic stripe for debit and credit cards to ease the use of cards internationally, activate and deactivate any card for increased security, book a visit to branch and logging into the app through face ID or fingerprint were introduced to meet the customers’ financial needs in a fast, efficient and most importantly secured way. To further enhance the banking experience, QIB’s Mobile App users are eligible to open new accounts, to book a fixed deposit or subscribe to a Certificate of Deposits through a few easy steps. With equal importance the new design of the mobile app is intuitive and allows the customer to complete any task with much fewer taps and much faster than before.