QIB finances Salam Bounian Tower for QR206m

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About QIB:
QIB (Qatar Islamic Bank) is the first global Islamic banking network. It was founded over 25 years ago as the first Sharia'-compliant bank in Qatar. Today the Bank enjoys a leading position within the Islamic banking and finance sector, holding a 53% share of Qatar's Sharia'-compliant banking sector and nearly 10% of the local overall banking market. QIB ranks fourth among the world's five largest Islamic banks in terms of total assets and is rated (A) by both Fitch and Capital Intelligence.

QIB's 2008 financial results posted record profits of QR1.6bn, a 30% increase overall, and 57% rise in total Bank assets from the previous year to reach QR33.5bn. The Bank's aspiration is to offer a global Sharia'-compliant network, opening full-fledged Islamic institutions word-wide. The Bank is operating under an aggressive five-year strategic program aimed at maintaining an annual 25% growth rate, expanding its network of affiliate banks, branches and ATMs. QIB offers comprehensive finance options for domestic and international corporate clients in many sectors, such as property finance, governmental and semi-governmental interests, private and commercial construction projects, trade finance, communications, transportation such as shipping and airlines, health services and water and electricity projects.

QIB was the trailblazer in the Islamic banking industry and the first to launch Sharia'-compliant retail, corporate and private banking and finance products, and remains an industry innovator. The Bank plays a key role in financing major infrastructure and mega-real estate projects around the world.

The Bank reaches the global Sharia'-compliant finance market through its numerous branches and six affiliates including Arab Finance House (AFH) in Lebanon, Asian Finance Bank (AFB) in Malaysia, European Finance House (EFH) in U.K. and Aqar Real Estate Development & Investment Company, Al Jazeera Islamic Company and QInvest in Qatar.