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Also in attendance were senior dignitaries from the banking and business community, members of the media and other distinguished guests.
Al Yusr will combine traditional Islamic values with superior modern banking solutions using the latest technology, providing personalized service and care that customers have come to expect from IBQ.
Al-Yusr's innovative approach to Islamic banking will provide customers a full range of Sharia'a compliant services and products. These will include current, savings and term deposit accounts, debit cards, consumer and personal finance solutions such as Murabaha and Tawarroq, in addition to Corporate banking financing based on Istisna'a, ljara and Murabaha.
At the branch opening ceremony, Mr. George Nasra, Managing Director of IBQ, said:
"We are committed to meet the needs of our customers in this rapidly changing economic and banking environment. Islamic finance is playing a major role in the capital markets and banking arena, both internationally and locally. According to Qatar Central Bank, the country's Islamic banking assets grew by a compound annual growth rate of 54.3% between 2003 and 2008, counting for more than 15% of total banking assets. Consequently, establishing our Al Yusr Islamic banking branch is a major milestone that reaffirms our commitment to this important and growing market sector and reflects our vision, our aspiration and our will to play a key role in the Islamic banking marketplace in Qatar. We will focus on our 50 years' knowledge of the local market and our experience in product innovation to offer our clients a superior banking experience."
The new Al Yusr branch is located on the C-Ring Road opposite the current IBQ branch. It offers customers a dedicated call centre and ATMs for cash withdrawal and deposit 24 hours a day. Opening hours are 7:30 am to 1pm, Sunday through Thursday, and 5:30pm to 7:30 pm, Sunday and Wednesday.
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Posted by Siba Sami Ammari
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