Posted on July 05, 2020

Qatar Islamic Bank (QIB) extends its gesture of goodwill and appreciation to the frontline workers combating COVID-19 with the introduction of special Certificates of Deposit.

The new Certificates of Deposit are offered exclusively to the frontline medical and police workforces of the Ministry of Interior, Ministry of Public Health, Hamad Medical Corporation, Primary Health Care Corporation, Sidra Medical and Research Center, Ahli Hospital, American Hospital Doha and volunteers. Customers can immediately request a certificate of deposit through QIB’s 24/7 Call Center. QIB has developed the Certificates to help customers increase their long-term savings. The new Certificates have an unlimited maximum amount, with a minimum amount of QR 5,000 and further multiples of QR 5,000. The Certificates also offer exclusive return allowing the frontline employees to benefit from a higher expected profit rate.

D. Anand, General Manager, Personal Banking at QIB said: “We at QIB realize our role in supporting the people of Qatar. There is no doubt that COVID-19 has impacted numerous facets of our community. Everyday Qatar’s frontline medical and police personnel face uniquely challenging situations while working tirelessly to protect the community from the spread of COVID-19. The introduction of QIB’s specialized Certificates of Deposit is our token of appreciation and gratitude for our community heroes. This is QIB’s way of saying Thank You.”

He continued: “These Certificates represent our commitment to offer customers added value and convenience through financial products that foster a saving culture in Qatar. A remarkable benefit of this exceptional offer is that it provides customers with the opportunity to grow their funds safely throughout the duration of the certificates.”

The new Certificates of Deposit for frontline employees will be available by calling 44448444 and soon can be availed on the QIB Mobile App. Certificates of Deposit are fully Shari’a compliant and profits incurred will be distributed to customers every quarter. The Certificate of Deposit holder is also able to apply for financing up to 95% of the Certificate of Deposit amount, with financing tenor equivalent to the certificate maturity.

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