Posted on May 12, 2019

Qatar Islamic Bank (QIB), has been recognized as the “Best Islamic Financial Institution in Qatar” and the “Best Islamic Financial Institution in Sudan,” by the New York-based Global Finance Magazine. QIB was also named the “Best Islamic Project Finance Provider” in the world for its project finance expertise in 2018. The Bank continues to win prestigious awards which confirm its leading position locally as well as at the regional and international financial markets.

QIB’s growth strategy is built on its position as a leading Islamic Bank covering all segments of the financial markets. It has financed major developmental projects in different fields which include: infrastructure, oil and gas, mega construction projects, and other sectors in alignment with Qatar’s National Vision 2030.

“Over the past few years, we have been consistently outperforming the market, strengthening our relationship with our customers and providing our shareholder's positive results. This has placed us at the forefront of Islamic finance in the world” said, QIB’s Group CEO, Bassel Gamal.  "QIB’s success derives from the strategic vision of our Board of Directors and the focused implementation of our business strategy. A key factor which contributes to our growth is the resilience of Qatar’s banking sector and the overall national economy of Qatar. Our strategy is closely tied with Qatar’s National Vision 2030 and the Government’s commitment to investment in the country’s infrastructure, the diversification of the economy, and the development of a strong private sector”.

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. QIB’s remarkable win of three awards from Global Finance reaffirms the Bank’s progress during the past few years in establishing itself as a leading Islamic banking institution in the local, regional and international markets while contributing to the stability and strengthening of Qatar’s economy, despite regional and global economic challenging times.

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 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.