Posted on October 26, 2019

Qatar Islamic Bank (QIB) has announced its participation in the Initial Public Offering (IPO) of Baladna, the leading and largest dairy producer in Qatar. The IPO will run from October 27th to November 7th, 2019.

To simplify the subscription process, QIB recently upgraded its award-winning Mobile App and Internet Banking to give Qatari customers the opportunity to register and subscribe online to any IPO. The E-IPO functionality allows pre-registered customers to subscribe to an IPO for themselves, and their dependents below the age of 18, within just a few minutes. Non-registered customers can easily register through QIB’s mobile app or Internet Banking. The E-IPO process is hassle free, paperless and does not require the customer to visit a QIB branch.

Qatari customers can also subscribe by visiting any of QIB’s 13 branches, participating in the IPO, that are located across the country with dedicated centres to serve ladies, Private, and Tamayuz Customers as well as dedicated Corporate sections. Participating branches for the IPO include: Salwa Road, Al Rayan, Airport, Gharafa (Q-mall), Al Khor, Al Sadd, Sheikh Abdulla Bin Zaid Al Mahmoud Islamic Cultural Center (Fanar), C-Ring, Dukhan, Muaither, Umm Salal, Wakra and Corporate Branch on Grand Hamad Street.

Salwa Road, Rayyan, Airport, Q-Mall (Gharaffa) and Corporate Branch will be open 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. The remaining participating branches will be open from 7:30 AM till 4:00 PM, and from 9:00 AM till 12:00 PM on Saturdays. Tamayuz customers can also subscribe through 6 dedicated centers located at C-Ring, Sheikh Abdulla Bin Zaid Al Mahmoud Islamic Cultural Center (Fanar), Gharafa (Q-Mall), Salwa Branch, Al Rayan and Al Khor. Private Banking customers can visit Al Sadd Private Center. Ladies customers can enjoy full privacy while subscribing through 5 dedicated centers located at Salwa Road, Al Sadd, Al Rayan, Umm Slal and Al Khor. 

Corporate & Small and medium enterprises with valid CR can subscribe through the Corporate Branch at Grand Hamad Street, Sheikh Abdulla Bin Zaid Al Mahmoud Islamic Cultural Center (Fanar) and Muaither branches. QIB Qatari customers that are interested in a personal subscription will need to fill the IPO subscription form and present their valid QID 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 proving that the person making this application is the parent or legal guardian of the minor, alongside an authentic 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 27th to November 5th, 2019. 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 31 January 2020 and settlement will be made in one bullet payment.

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