al khaliji announces its interim results and the appointment of its Executive, Islamic Banking

The results comprise net income of QR12.7m and shareholders' equity of QR4.6bn, reflecting al khaliji previously announced intent to invest in people and technology to support its aggressive expansion plans.

One example is the bank's appointment of Ms. Rosmah Ismail to lead its Islamic Banking activities. Rosmah joins al khaliji from ABN-Amro, Malaysia, where she was responsible for Global Islamic Finance.

In addition, al khaliji recently launched its retail banking business in Qatar with the opening of its Q-post Centre in the heart of West Bay on June 16th.

More sites will open in rapid succession as the bank is aiming to open six full branches, two service centres and 10 off-site ATMs across Qatar by the end of 2008.

al khaliji has already opened a 24-hour state of the art contact centre, the first of its kind in the region.

Commenting on these achievements, Tariq Al Malki, Chairman and Managing Director of al khaliji said:

"I am very proud we've achieved so much in the short history of al khaliji. Rapid growth can only be achieved if solid foundations are in place, which requires disciplined investment now to build tomorrow's next generation bank - it's about sustainability over the long term."

David Proctor, Chief Executive Officer of al khaliji added: "I'm delighted customers are now beginning to see the benefits of the approach we've taken to develop a distinctive customer proposition. We believe we have the right strategy, and are executing on it, to deliver sustainable, superior returns to our shareholders throughout the economic cycles".