A QIB official receiving award from an Islamic Finance News representative.
Doha: Qatar Islamic Bank (QIB), the largest Islamic bank Qatar in terms of assets, was recently conferred three awards from Islamic Finance News, based on 2013 financial results, achievements and major financing deals.
The awards were for ‘Best Islamic Bank in Qatar’, ‘Arranger of the Syndicated Deal of the Year’ for a $340m Ijarah Facility and ‘Arranger in the Tawarruq Deal of the Year’ for the $662.4m Maran Nakilat Revolving Commodity Murabahah Facility.
“Over the past 30 years, QIB has succeeded to become a recognisable local and regional financial institution, as well as becoming one of the best-known Islamic Financial solutions providers in the world,” said Saeed Alkhayareen, Acting General Manager, Corporate Banking Division of QIB’s. “QIB’s financing activities continue to be a major growth driver and reached QR47.1bn in 2013, representing 9.3% growth compared with the previous year. This reflects QIB’s major role in supporting Qatar’s economy by providing Islamic Finance solutions to major companies in both the governmental and private sectors,” he added.
The Islamic Finance News awards are widely recognised as one of the most prestigious awards by global Islamic capital markets.
Currently, QIB is also the largest Islamic bank in terms of financing in Qatar with a 35% share of the Islamic sector and a 9% share of the overall banking market.As of the end of 2013, its capital amounted to QR2.36bn with total assets standing at QR77.4bn.
QIB conducts its domestic business through 32 branches, spread throughout the country and this is augmented by more than 175 multi-function ATMs Cash Deposit Machines.