• HSBC

QIB opens hi-tech information technology center

Sheikh Abdullah Bin Saoud Al-Thani, Qatar Central Bank (QCB) Governor, has inaugurated a state-of-the-art Information Technology (IT) Center at QIB headquarters.

Sheikh Abdullah Bin Saoud Al-Thani, Qatar Central Bank (QCB) Governor, has inaugurated a state-of-the-art Information Technology (IT) Center at QIB headquarters.

Currently operational, the IT center is fully equipped as a stand-alone center in which operating, supervising, and safety systems are employed to provide cutting edge solutions to QIB's effort to maintain its high standards and non-stop functioning.

The IT Center upgrade was initiated as a result of a detailed study recommendation and is but one in a series of 30 projects designed to transfer the entirety of the bank's IT systems to the latest 2010 technologies. This strategic plan is 70% completed.

Sheikh Abdullah Bin Saoud Al-Thani said of this new IT Center:
"This Center will undoubtedly be a valuable component for the IT infrastructure at QIB. QCB is glad about this development since we are aware that Qatari banks should be fully updated and prepared in relation to technology. We are certain our banks comply with the most recent standards regarding Information Technology systems which we deem necessary, as these systems now constitute a major element in developed banking services."


"QCB is keen for all banks operating in Qatar to have efficient, hi-tech systems to execute their work, such as electronic clearance, credit ceilings, money collection, customer data and bank transfers. In addition, the new system acts to provide and promote a strong communication environment locally and with international banks," he added.

"Developing the bank's technology is one of our strategic priorities, especially since these systems comprise such a vital element of managing banking institutions," said Sheikh Jassim Bin Hamad Bin Jassim Bin Jabor Al-Thani, QIB Chairman.

"We have improved our banking technologies in order to secure a developed Information Technology environment that will allow QIB to present new electronic banking services, form an even more solid IT foundation, link our branches network, and provide hi-tech communications solutions with local and global banks," he added.

Mr. Salah Jaidah, QIB Chief Executive Officer agreed, adding: "This IT Center shall place QIB at the lead of hi-tech financial institutions because of the modern capabilities it offers in addition to integral technological solutions which cover all the bank's services, such as the treasury, risk, assets and liabilities, e-banking and ATM cards, financial issues, human resources, commercial financing such as letters of guarantee and documentary credits, banking transactions, archives and enhances our ability as a clearing house with local and international banks."

"This Center reflects the level in which Islamic banks are interested in upgrading with latest banking technologies, and how they seek to improve their technical capabilities to coincide with their needs and the requirements of the client. It also allows them to keep pace with financial globalization and the data revolution and ensures communication between banks around the world."

"The new IT Center's opening falls in line with the bank's strategy to execute a comprehensive upgrade for its computers, networks, Information Center and operating systems. It also addresses safety procedures such as supervision and safety, expanding the CCTV room, solving problems related to implementation systems and appropriate training for employees to use these systems efficiently."

The strategic plan to execute the IT Center focused on updating the bank's software to coincide with recent IT banking programs, enhancing credits ceilings systems, calculating profits and collecting funds, each of which is in compliance QCB regulations.

This project included, as well, re-structuring and organizing of the internal and external networks to provide the best and fastest performance in an effort to link all QIB branches and ATM machines with this IT Center.

In addition, the project updated and consolidated all systems in an effort to follow a system of virtualization that allows the use of many programs with less equipment.

This procedure secures a higher level of flexibility and lesser use of resources from machines and equipment.

The IT Center shall centralize and unify information on one DMX4 Symmetric, a high-power system which allows for better customer service and a non-stop functioning Mission Critical environment, efficient ways to fight data risks

QIB has established CCTV room to supervise its branches performance, the banking systems, the ATM machines, the programs and the databases.

The CCTV room will initiate immediate colored visual reports about any malfunction that happened or about to happen and allow a direct contact with the specialist who would be able to fix any problem before or after occurring.

QIB has coordinated with international specialized companies to gather the best systems to protect information, databases, the bank's network, e-mails and defend against hackers.

A PMO was established, as well, aiming to classify and execute all projects and provide a specialized administration for data security concerned with protecting all databases, computers and networks and work in compliance with international standards, noting that this administration seeks to acquire an ISO 27001 certificate.

QIB is prepared to execute a fully- automated project regarding all the bank's administrations in collaboration with international companies.

QIB is now working on updating all computers to link them to the new system in order to achieve a higher level of performance in customer service.

QIB has also formed a temporary Information Center for catastrophes called DR Site.

The bank is in the process of purchasing land near Doha for a hi-tech, permanent emergency center.

Sheikh Jassim Bin Hamad Bin Jassim Bin Jabor Al-Thani, QIB Chairman, expressed his gratitude to Mr. Akhtar Jamal, General Manager of the Information Technology department, and Mr. Hamad Al Zamli, Assistant General Manager, and the IT team which executed this project.

This inaugural event was also attended by QIB's Vice Chairman, Mr. Mohammad Bin Abdullatlf Al Mana and the bank's Managing Director, Mr. Abdullatlf Bin Abdulla Al Mahmmoud.
 
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Notes and Media Contacts »

Qatar Islamic Bank (QIB) was founded 25 years ago and was the first Islamic and Sharia compliant bank in Qatar and is also one of the five largest Islamic banks in the world. Today the bank enjoys the premier position within the Islamic banking sector and holds 53.4% share in the Islamic banking sector and 10% of the total Qatar banking sector. QIB was upgraded from A- to A by both Fitch and Capital Intelligence in May 2008.

QIB was the pioneer in launching Sharia compliant Islamic Financial products, for retail, corporate and private banking and operates today in Qatar via 20 branches and 91 ATMs. QIB is also the pioneer in successful real estate investment funds in the UK, USA and France.

QIB's net profit in 2007 reached QR1.25bn which represented an outstanding 25% increase versus the previous year. With this result, QIB is now ranked 14th in the world for best return on asset among the 1000 biggest banks in the globe.

In Qatar QIB plays a key role in financing major infrastructure and real estate projects. For the first time ever in Qatar, a seven year Ijara sukuk was awarded for Qatar Airways to finance their purchase of an Airbus A 340-600 which shows QIB strong determination in Islamic product innovation. In 1989, the bank also established Al Jazeera Islamic Company, a sharia compliant financing company targeting mainly consumers and small and medium enterprises. The bank also established in 2000 Aqar real estate company and recently Qinvest an Islamic Investment bank licensed by the Qatar Financial centre (QFC) with USD 1bn declared capital and USD 500 million paid up capital.

When operating in the international market, the bank thinks globally but acts locally. This means that each market QIB enters, it opens a fully fledged Islamic institution that addresses the principles of QIB as well as addressing the requirements and needs of the local market. In 2004, QIB established in Lebanon the Arab Finance House and today this institution operates with a network of six branches in Lebanon. In March 2007 QIB inaugurated the Asian Finance Bank in Kuala Lumpur, Malaysia. In London the bank opened in January 2008 the European Finance House.

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