QIB selected among top 50 GCC corporations

The magazine said QIB deserved this advanced ranking because of the leading position it occupied in the local, regional, and international banking markets, motivated by a keen interest to extend distinctive banking and financing services that keep pace with the tremendous progress witnessed in banking industry.

'Arabian Business' stated that QIB had successfully adopted diversified Islamic financing and investment tools to fulfill the needs of its customers, through the offering of a range of Islamic financing modes including Mudaraba, Musawama, Murabaha and Ijara. This enhanced its effective participation in project financing for both state and private sectors through Shari'a-compatible tools.

According to the magazine, with an investment limit over 70% of its aggregate investment receptacle, QIB became one of the most reputable establishments in Qatar. It mentioned in this context that the bank already signed a financing agreement for the purchase of an Airbus A340-600 for Qatar Airlines.

Terming the selection as "a natural outcome", Prof. Abdullatif Al Meer, acting CEO of Qatar Islamic Bank, referred it to the outstanding performance over the past two years, as reflected in the bank's financial results, the development realized in its local and foreign investments, the enlargement of its branch network, the adoption of cut edge technology and the offering of new product.

Mr. Al Meer stated also that QIB has a comprehensive strategy for maintaining its developing trend and growth rate of its activities during the coming stage. The bank would focus on qualitative expansion of its investments, planning to offer new retail and corporate products, offering new property funds and portfolios at domestic and international levels and, the inauguration of finance houses (mainly QINVEST and the European Finance House (EFH) and, the opening last month in Malaysia of the Asian Finance Bank (AFB).