Posted on October 29, 2018

Qatar Islamic Bank (QIB) has announced its participation in the Initial Public Offering (IPO) of Qatar Aluminum Manufacturing Company (QAMCO) from October 30th till 12th of November.

QIB Qatari customers will be able to subscribe through 12 main branches across Qatar with extended working hours to make it easier to subscribe.  QIB is committed to supporting national initiatives undertaken by the government that increase investment awareness and wealth creation. This kind of initiative showcase the healthy economy that Qatar enjoys, which aims at providing opportunities to the entire Qatari community including the next generation.

There will be 12 branches that will be available for customers’ convenience from Sunday through Thursday from 7:30 AM till 1:00 PM and will re-open 5:00 PM till 7:30 PM; Saturdays from 9:00 AM till 12:00 PM. Those branches are: Sheikh Abdulla Bin Zaid Al Mahmoud Islamic Cultural Center (Fanar), Gharafa (Q-mall), Salwa Road, Al Sadd & Private Banking Center, Al Rayan, Al Khor, Umm Salal, Airport Road, Al Wakra, Muaither, and C-Ring. Dukhan Branch will be available from Sunday to Thursday from 7:30AM until 1:00 PM.  

Tamayuz customers can also subscribe through their dedicated centers located at: Sheikh Abdulla Bin Zaid Al Mahmoud Islamic Cultural Center (Fanar), Gharafa (Q-Mall), Salwa Branch, Al Rayan and Al Khor. Ladies customers can enjoy full privacy while subscribing through their dedicated centers located at Salwa Road, Al Sadd, Al Rayan, Umm Slal and Al Khor. QIB Qatari customers that are interested in a personal subscription will need to fill the IPO subscription form and present their valid QID along with a copy. If applying on behalf of a minor, the applicant needs to provide an original birth certificate or the minor’s passport, QID of the person making the application, and a document evidencing the fact that the person making this application is the parent or legal guardian of the minor alongside a true and valid copy.  

Furthermore, if the applicant is applying on behalf of a third-party member other than a minor, the applicant should have an original QID for the third-party member and his own QID alongside a copy of both. In addition, a duly notarized power of attorney valid for use in the state of Qatar evidencing the fact that the person making this application is duly authorized to apply for Offer Shares on behalf of the relevant third party alongside a true and valid copy. QIB customers can also apply for a finance to subscribe if their salaries are transferred to QIB, the customer needs to cover 35% of the subscription amount in addition to the fees, whereas QIB will finance 65% of the subscription amount. Customers need to fill out the finance application alongside the shares related forms and provide a cheque with the total finance amount alongside additional copies of QIDs of the applicant and the subscribers.

Finance applications will be accepted from October 30 until November 10, 2018. In case the shares are pledged against the finance, it will take up to 10 working days to release the shares after the finance is settled. The Due date for all IPO financing is February 15, 2019 and settlement will be made in one bullet payment. 

For more information about how to subscribe, please visit: www.qib.com.qa/en-IPO or contact QIB at 44109910.

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