Qatar Islamic Bank recognized as Best Islamic Financial Institution in Qatar

About Qatar Islamic Bank:
Qatar Islamic Bank (QIB) was founded 27 years ago as the first Islamic and Sharia'-compliant bank in Qatar. It is also one of the five largest Islamic banks in the world with a capital of QR2.1bn. Today the bank enjoys the premier position within the Islamic banking sector, holding a 53.4% share of this division and 10% of the total Qatar banking sector. QIB recently achieved an (A) rating from both Fitch and Capital Intelligence (CI). The Bank was the pioneer in launching Sharia'-compliant Islamic financial products for retail, corporate and private banking and operates in Qatar via 25 branches and more than 100 ATMs. QIB is the first global Islamic banking network and conducts business worldwide through six affiliate banks.

QIB's net profit for the first half of 2009 reached QR812.6m, an outstanding 32% increase versus this year's first quarter results, ranking QIB fourth among the world's five largest Islamic banks in terms of total assets. QIB was recently rated the 33rd most successful company in the GCC based on company market value.

In Qatar, QIB plays a key role in financing major infrastructure and real estate projects, demonstrating its commitment to contribute to the development of the country's economy. An example of its product innovation regarding oil, gas, electricity and water infrastructure development is QIB's recent agreement with Qatar Petrochemicals Company (QAPCO) to finance $200m of QAPCO's new Low-Density Phlyethylene-3 (LDPE-3) project and related operations. QIB also supports the domestic economy via institutions such as Al Jazeera Islamic Company, established in 1989 as a Sharia'-compliant consumer financing service targeting consumers and small- and medium-sized enterprises, and Aqar Real Estate Development & Investment Company which commenced operation in 2000. QInvest, an Islamic investment bank licensed by the Qatar Financial Centre (QFC), launched in 2007 with $1bn declared capital and $500m paid up capital. QInvest serves strategic, institutional and private investors both in Qatar and abroad.

QIB also focuses on furthering its position as a pioneering global Islamic banking organization. It is committed to expanding its footprint world-wide, in addition to furthering its presence in Europe, Asia, the Middle East and North Africa. When operating in the international market, the bank thinks globally, but acts locally; meaning that with each market QIB enters, it opens a fully-fledged Islamic institution which addresses the principles of QIB, as well as the requirements and needs of the local market. QIB currently serves the international market through affiliates including Arab Finance House in Lebanon (AFH, six branches, established in 2004), Asian Finance Bank in Kuala Lumpur, Malaysia (AFB, established in 2007), UK's European Finance House (EFH, established in early 2008), Solidarity Family Takaful in Bahrain and Al Tadhamon Bank in Yemen.

QIB Chairman is Sheikh Jassim Bin Hamad Bin Jassim Bin Jabr Al Thani
QIB Vice-Chairman is Mr. Mohammad Bin Abdulatif Al Mana
QIB Managing Director is Mr. Abdullatif Bin Abdulla Al Mahmmoud
QIB Chief Executive Officer is Mr. Salah Jaidah

Contact:
Alicia Holland
Senior Account Manager
Action Qatar
Part of Action Global Communications Group
121, Handassa Street, B-Ring Road, Doha, Qatar
P.O. Box 2900,
Tel: +974 4361499
Fax: +974 4370167

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