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Sunday, November 22 - 2009

Al Yusr Islamic banking service expands product offering with Tawarroq personal finance

Al Yusr Islamic banking service of IBQ announced today the further expansion of its portfolio of offerings with the addition of Tawarroq personal finance.

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  • Al Yusr C-Ring branch.
    Al Yusr C-Ring branch.
The solution is compliant with the standards of Sharia.

The move is further testimony to Al Yusr Islamic banking service's commitment to developing unique and innovative financing solutions that address the varying needs of different customers through enhanced flexibility and repayment structures.

The Tawarroq personal finance solution offers customers highly competitive profit rates, fast approvals, and rewarding and flexible financing terms.

Hassan Al Mulla, Head of Islamic banking, IBQ, commented:
"With the strength of Islamic banking in mind, and in line with our core values of innovation and commitment to quality, we are continuing to work hard on building our portfolio of Sharia-compliant offerings. We recently launched our Car Murabaha offering, and we also opened our Al Yusr Islamic banking service retail branch in May 2009. You can expect to see more superior Islamic products launched before the end of the year."



Al Mulla went on to highlight the level of flexibility, "Everybody is different and we all have unique needs - we believe this is very important and try to build flexibility into all of our products. Tawarroq personal finance is no exception. We have specially trained professionals who are there to help customers find the best solution to fit their needs."

The Al Yusr Islamic banking service offers a comprehensive range of banking and finance products to suit all needs.
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Notes and media contacts

About The International Bank of Qatar (IBQ):

IBQ is a well established and rapidly growing commercial institution, offering a full range of Retail, Private and Corporate Banking solutions. IBQ has a strong commitment to build long-lasting relationships with its customers and provide them with excellent customer service with a focus on making banking simple, convenient and tailored to their needs. IBQ is one of the oldest existing banks in Qatar and celebrated its 50th anniversary in 2006. It has a growing network of 9 branches and 30 ATMs in strategic locations throughout Qatar.

IBQ was named the fastest growing bank in the Middle East by The Banker's 39th edition of its "Top 1000 Banks 2009" survey. Additionally, IBQ has previously bagged the Best Customer Service Award for 2008 and 2009 from the Banker Middle East Magazine.

IBQ is 30% owned and managed by the National Bank of Kuwait (NBK), the highest rated bank in the Middle East, and the only bank in the Middle East to be named among the world's 50 Safest Banks in 2009. IBQ is a growing bank that benefits from an international network as a result of its affiliation with NBK which gives its customers access to greater resources and a wide range of international services.

For further information, please contact:

Hala Kassab
ASDA'A Burson-Marsteller
T: +974 4351 113
F: +974 4351 511

Muna Khogali
International Bank of Qatar
Dir: +974 447 3017
Fax: +974 447 3710

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