QIIB is seeking new partnerships with international financial and banking institutions as the bank’s leadership met top executives on the sidelines of the International Monetary Fund-World Bank Group Meetings in Washington, DC recently.
QIIB, one of the leading Islamic banks in the Middle East, is led by its chairman Sheikh Dr Khalid bin Thani bin Abdullah al-Thani.
The high-level QIIB delegation also comprised CEO Dr Abdulbasit Ahmad al-Shaibei among other senior executives.
During the meetings, the strength and resilience of the Qatari economy and the country’s banking system were highlighted. Opportunities provided by the country and its banking system were also showcased. Qatar’s economy is highly liquid and the country has been blessed with huge natural resources.
Qatari banks were among the few that could meet the international requirements in terms of liquidity as well as the Basel III regulatory framework on capital adequacy, stress test and market liquidity risk.
The Qatar National Vision 2030 has been laid out by the government to ensure prosperity and sustainable growth for people of the country.
The unfair blockade and malicious campaign against Qatar were clarified to the international financial community.
The meetings held on the sidelines of the IMF-World Bank Group meetings also provided a platform to discuss the opportunities available in Qatar and the country’s ability to continue with its growth trajectory.
QIIB’s participation in the annual meetings of the IMF and the World Bank comes on the heels of its announcement to establish a $2bn sukuk issuance programme.
The UK Financial Conduct Authority (FCA) has approved QIIB’s $2bn Trust Certificate issuance Programme and the FCA’s approval in the UK to list the programme on the London Stock Exchange.
The programme has been assigned a provisional rating of ‘A2’ by Moody’s Investors Service Cyprus and expected rating of ‘A’ by Fitch Ratings. Moody’s said ratings assigned to the trust certificates are at the same rating level as the ‘A2’ long-term issuer ratings of QIIB. QIIB was established in 1990 as the second Islamic bank in Qatar and is currently the third largest bank in terms of assets and market capitalisation.
Sheikh Dr Khalid: Leading from the front. Dr al-Shaibei (2nd right) with QIIB executives on the sidelines of the IMF-World Bank Meetings in Washington, DC recently.
