Posted on July 09, 2019

The Banking Executive Magazine has honored QIB as the “Best Islamic Bank in Qatar” at the 2019 edition of the World Union of Arab Bankers (WUAB) Awards. The ceremony, which recognizes the achievements of banking institutions in the Arab world, was held last week at the Seaside Arena in Beirut.

Senior bankers and decision makers from finance, government, regulatory bodies, and business across the Middle East and North Africa region gathered to recognize institutional best practices and outstanding achievements in 2018. This was the WUAB’s fifth annual ceremony for Arab banking excellence and achievements, which is an umbrella group for more than 500 bankers in the Arab region and around the world. “We are pleased to be named ‘Best Islamic Bank in Qatar’ at this year’s WUAB Awards for Excellence,” said Mr. Bassel Gamal, QIB Group CEO. “This award reflects genuine affiliation with bodies that work to bring together the Arab region’s financial institutions and to elevate the standards of banking and financial practices to cement the region’s reputation as a major hub for international financial markets”.

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. The Bank’s strategy is closely tied with Qatar’s National Vision 2030 and the Government’s commitment to investments in the country’s infrastructure, the diversification of the economy and the development of a strong private sector. QIB is a stable financial group covering all segments of the financial markets, including individuals, government institutions, large corporations and SMEs providing innovative banking solutions that fit every segment’s needs. We have been consistently outperforming the market, strengthening our relationship with our customers and providing our shareholders with outstanding results. This has placed us at the forefront of finance and banking in Qatar and beyond.” Mr. Bassel concluded.

In light of the Bank’s performance and continuous innovation, International financial publications has recognized QIB as one of the leading regional Banks. In the first half of 2019, QIB received 15 prestigious awards. Global Finance Magazine which selected QIB as the “Best Islamic Financial Institution in Qatar”, “Best Islamic Project Finance Provider in the World” and ‘Islamic Finance Innovator 2019’. The Asian Banker Magazine awarded Mr. Bassel Gamal the CEO Leadership Achievement Award and the Best Managed Bank in Qatar in the period from January 2016, to December 2018. The Banker Magazine, part of the leading monthly title of the Financial Times Group, named QIB the Best Islamic Bank in the Middle East, Qatar, and United Kingdom.

Since 1982, QIB is an active contributor to Qatar’s banking industry and has been the recipient of internationally acclaimed banking awards. In the first quarter of 2019, the Bank achieved a net profit of QR 685.2 million, representing a growth of 9.6% 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 106.3 billion having grown 4% from December 2018.