Posted on May 10, 2011

Qatar Islamic Bank (QIB) has been declared the ‘Best Islamic Financial Institution in Qatar’ by Global Finance magazine during the fourth annual awards of the influential media outlet. The award recognises QIB’s successes in contributing to the growth of Islamic Banking both locally and internationally through the wide range of Shari’a-compliant products the bank offers, and in possessing the correct standards for productive and ethical growth in the future. At the same awards ceremony, Arab Finance House (AFH) was honoured as the ‘Best Islamic Bank in Lebanon’ – AFH is QIB’s wholly-owned subsidiary operating in the Levant area.

All winning selections were made by the editors of Global Finance, after extensive consultations with bankers, corporate finance executives and analysts throughout the world. Banks were invited to submit entries supporting their nomination. Amid nominally-objective criteria were: growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Subjective criteria included the informed opinions of equity analysts, banking consultants and others involved in the finance industry.

Mr. Ahmad Meshari -QIB Acting CEO

Ahmad Meshari, QIB Acting Chief Executive Officer, said, “This award proves once again QIB’s efforts to achieve consistent growth and to develop a comprehensive portfolio of Shari’a-compliant products. It also strengthens QIB’s position as a leader in Islamic Banking in Qatar and as a noteworthy organisation among other Financial Islamic institutions worldwide.

“QIB has picked up numerous awards during 2010 and the first quarter of 2011, and it will continue in achieving excellent performance in order to respond to its customers’ needs whether they are institutions, corporations or individuals. Our progress comes from closely following an ambitious and forward-thinking strategy supported by the Bank’s board of directors,” added Meshari.

Global Finance magazine was established in 1987, and is read by more than 50,000 people from more than 160 countries, a good percentage of whom are influential financiers and high-ranking members of financial organisations. The magazine targets a global ‘hard core’ of 8,000 investors who manage a massive 80% of the world’s total investment assets.