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9 July 2019 09:44 am

QIB honoured as "Best Islamic Bank in Qatar" by Banking Executive Magazine

Sumaica Asad
Sumaica Asad
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The Banking Executive Magazine has honoured QIB as the "Best Islamic Bank in Qatar" at the 2019 edition of the World Union of Arab Bankers (WUAB) Awards. The ceremony, which recognizes the achievements of banking institutions in the Arab world, was held last week at the Seaside Arena in Beirut.

Senior bankers and decision makers from finance, government, regulatory bodies, and business across the Middle East and North Africa region gathered to recognize institutional best practices and outstanding achievements in 2018. This was the WUABs fifth annual ceremony for Arab banking excellence and achievements, which is an umbrella group for more than 500 bankers in the Arab region and around the world.

"We are pleased to be named Best Islamic Bank in Qatar at this years WUAB Awards for Excellence," said QIB Group CEO Bassel Gamal.

"This award reflects genuine affiliation with bodies that work to bring together the Arab regions financial institutions and to elevate the standards of banking and financial practices to cement the regions reputation as a major hub for international financial markets," he added.

QIB's growth strategy is built on its position as a leading Bank with deeply rooted customer relationships and strong engagement with the local communities. The Banks strategy is closely tied with Qatar's National Vision 2030 and the Governments commitment to investments in the country's infrastructure, the diversification of the economy and the development of a strong private sector.

QIB is a stable financial group covering all segments of the financial markets, including individuals, government institutions, large corporations and SMEs providing innovative banking solutions that fit every segments needs.

Since 1982, QIB is an active contributor to Qatar's banking industry and has been the recipient of internationally acclaimed banking awards. In the first quarter of 2019, the Bank achieved a net profit of QR 685.2 million, representing a growth of 9.6 percent over the same period in 2018. Total Customer Deposits stand at QR 107.8 billion registering a growth of 7.1 percent compared to December 2018 and total Financing reached QR 106.3 billion having grown 4 percent from December 2018.

Source: QNA
Image credit: QIB