QIIB wins Best Islamic Bank In Qatar Award

QIIB has won 2016 Best Islamic Bank In Qatar Award from International Finance Magazine, one of the most renowned magazines in the fields of Finance and Business.
Jamal Al Jamal, deputy CEO of QIIB, received the award during a ceremony held in Dubai in the presence of high level representatives of banking institutions from a large number of countries around the world.
The magazine said that: “QIIB was chosen based on its accomplishments and its ability to move forward at various levels as well as its capacity to significantly strengthen its indicators and increase its contribution to the enrichment of the Islamic Banking”.
The bank is seamlessly forcing its pace and achieving astonishing results in terms of profits, growth, total asset and ROA. It also seeks expansion inside and outside Qatar which reflects its ambitious plan. The Bank also actively participates in the development of SMEs thus affecting our positive evaluation of the Bank and our decision to grant it this award.  QIIB CEO, Abdulbasit Al Shaibei said: “QIIB's winning of this well-deserved award underlines the strength of the Qatari Economy and the large opportunities it provides. It also reflects the success of the plans and strategies laid out by our Board of Directors in accordance with the banking sector’s best practices and the success of the great commendable efforts of the bank’s staff over the years”.
QIIB was, in the past year, able to accomplish many achievements namely in terms of maintaining growth in the various items of its balance sheet and strengthening its financial position despite the unstable market factors. International Rating Agencies affirmed the Bank’s strong position as it acquired, in 2016, distinguished credit ratings with an A2 from Moody and an A+ from Fitch with a stable outlook from both agencies
“We draw our policies and plans based on the priorities of the local market and our contribution to the development of the various sectors of the Qatar Economy which is continuously achieving significant growth rates and which is considered by the various international rating agencies as one of the best economies in the region,” said Al Shaibei.
 “At QIIB, we always seek to be the first address for Islamic Banking and we have come a long way in achieving this ambitious goal as we were able to promote our expansion in the local market through a large network of branches and ATMs as well as alternative channels," Al Shaibei added.
The expansion of bank's clients’ base and network compelled the bank to give more attention to innovation, novation and contribution to the provision of new Islamic banking products as we believe that Islamic banking has a lot to offer but needs more efforts in this context.  
Within the framework of the bank's efforts to extend its success to the regional market, it  acquired, in 2016, a license from Bank Al Maghrib (Morocco’s Central Bank) to establish a participatory bank (Islamic) in Morocco in partnership with the Credit Immobilier et Hotelier and we rely on this step to open North Africa’s door for QIIB, as this region seriously lacks Islamic Banking Services.
“QIIB will continue to enhance its position and execute its interim and strategic plans by adopting a wise policy namely in terms of risks and by relying on the Qatari Economy forces as well as its quarter of a century experience at local, regional and international levels,” added Al Shaibei.