Acting general manager Saeed Alkhayareen of QIB’s Corporate Banking Division receives the awards during a ceremony held recently in Dubai.
Qatar Islamic Bank (QIB) took home three awards from the Islamic Finance News (IFN), it was announced.
Based on the bank’s performance last year in financial results, achievements, and major financing deals, QIB bagged the following awards: “Best Islamic Bank in Qatar”, “Arranger of the Syndicated Deal of the Year” for the $340mn Ijarah facility, and “Arranger in the Tawarruq Deal of the Year” for the $662.4mn Maran Nakilat Revolving Commodity Murabahah facility.
Acting general manager Saeed Alkhayareen of QIB’s Corporate Banking Division received the awards during a ceremony held recently in Dubai. He said the awards represented QIB’s commitment to its customers and stakeholders and reinforced QIB’s position “as one of the leading Islamic Banks in the region.”
“Over the past 30 years, QIB has succeeded in becoming a recognisable local and regional financial institution, as well as one of the best-known Islamic Financial solutions providers in the world,” Alkhayareen said.
The IFN honours the best in the Islamic financial industry and it is widely recognised as one of the most prestigious awards by global Islamic capital markets.
The IFN Deals of the Year, established in 2006, recognises those who have participated in the industry with groundbreaking transactions each year.
“QIB’s financing activities continue to be a major growth driver and reached QR47.1bn in 2013, representing a 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,” Alkhayareen added.
Founded in 1982, QIB has become Qatar’s first Islamic financial institution and Shari’a-compliant bank. As of the end of 2013, its capital amounted to QR2.36bn with total assets standing at QR77.4bn.
Currently, QIB is the largest Islamic bank in terms of assets and 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.
QIB conducts its domestic business through 32 branches, spread throughout the country and is augmented by more than 175 multi-function ATMs and CDMs (Cash Deposit Machines).
The bank has been independently rated with an “A” by international agencies Fitch, Capital Intelligence and Standard & Poors.
“QIB is a bank for the people with a strong commitment to continuously enhance its levels of customer service through the adoption of the latest banking technologies. The bank is closely tied-in to the financing of national infrastructure projects, small and medium enterprises, and the trade sector in line with Qatar National Vision 2030,” Alkhayareen said.
