Islamic banking customers enjoy another addition to QNB Al Islami's network

Qatar National Bank (QNB), witnessed another addition to its Islamic operations wing, with the opening of a new Office of QNB Al Islami at Qatar National Olympic Committee's building (QNOC) in the presence of H.E. Sheikh Saoud Bin Abdul Rahman Al Thani, Secretary General of QNOC and Mr. Ali Shareef Al Emadi, Acting Chief Executive of QNB, and senior officials from both parties.

This will further enable it to keep up with the rapidly growing demand for Islamic banking products and services.

Speaking about the opening of the new QNB Al Islami Office H.E. Sheikh Saoud Bin Abdul Rahman Al Thani said, "It is an honor for us to host one of QNB Al Islami's Offices in our building given the strong ties that bind QNOC to QNB and the community's benefits from this strong association. Opening this new office will undoubtedly assist us in providing our customers with speedy and comprehensive services including a wide variety of Islamic banking products. We look forward to seizing every opportunity that serves the best interest of our community and our relations with leading institutions such as QNB."

Mr. Al Emadi responded to this new development saying: "The opening of our new QNB Al Islami office at QNOC building aims at facilitating banking operations for QNOC employees and fulfill their needs for Islamic banking products, given the special relations that bind us to QNOC."

In an agreement with QNOC signed in September 2006, QNB became the exclusive sponsor of the four major sport championships in Qatar: football, basketball, handball and volleyball. The sponsorship includes Leagues of the four games and H.H. the Heir Apparent Cup, and H.H. the Emir Cup.

"This new Office will allow us to provide the best services to our customers, particularly to QNOC employees, and facilitate their operations with QNB through fast and hassle-free services at QNOC building. This pioneering initiative falls in line with our Islamic products' expansion plan and our strong desire to contribute in shaping the future of Qatar's Islamic banking landscape," Mr. Al Emadi added.

QNB Al Islami offers a comprehensive portfolio of financial products and services which comply fully with Islamic Shari'a principles such as Current Account, Savings Investment Account, Fixed Investment Deposits and Call Account, Charge Card and ATM card, Murabaha Financing, Internet Banking, Cash Collection, Cash Management and other such services. It also offers Project Finance products such as Istisna, Forward Lease, Specified Ijara, Diminishing Musharaka and Sukuk.

All products and services provided by QNB Al Islami, in addition to any special promotions, are all certified by QNB Al Islami's Shari'a Advisory Board which is headed by leading Shari'a scholar, Dr. Sheikh Yousef Al Qardawi. The board reviews all QNB Al Islami documentation to ensure its products and contracts, are Shari'a-compliant.

In its quest to satisfy the Qatari community in all sectors, QNB will continue to look out for innovative Islamic banking solutions and keep up with its long term expansion plans in order to cater to the growing demand for such services.