QIIB has been chosen for ‘Qatar’s Most Innovative Islamic Retail Bank’ award 2020, instituted and granted annually by the Islamic Retail Banking Awards Committee in collaboration with Cambridge University in the UK.
Citing reasons for granting QIIB the award for the second year in a row, the committee said, “QIIB continues to take the leading role in Islamic banking and has succeeded in maintaining stability of its various budget items. The bank has faced the challenging circumstances wisely and maintained an upward growth trend.”
The committee noted that QIIB “has made continuous strides: in the field of digitisation and it is providing comprehensive services to its customers, retail sector in particular. Prominent global credit rating agencies have praised the bank’s role and its high-level of retail services, “all of which support QIIB’s deserving win of this award.”
The Islamic Retail Banking Awards Committee “expressed appreciation of QIIB’s significant efforts in providing innovative products and services to its customers that align with the best international standards in the financial sector.
“It is highly-expected that QIIB will continue its strong role and growth in view of its wide experience and the trust bestowed on it by its vast customer base, and its ability to adapt with the market factors and different challenges, which are clearly reflected on its past performance.”
QIIB CEO Dr Abdbulbasit Ahmed al-Shaibei said, “Any success we achieve and appreciation we receive are primarily due to Qatar’s robust and highly-dynamic economy and its providing rich opportunities to institutions that seek to achieve their goals and build their strategies.
“At QIIB, our strategies are always focused on meeting our customers’ expectations and understanding our first priority. We always seek to provide a personal banking experience to each customer, in the truest sense of the word.”
He added: “At QIIB, we have a wide range of innovative retail products, similar to our corporate products designed for small and medium enterprises, and our distinguished and ever-growing customer base. In addition, QIIB has a professional team that is capable of designing the best products and services that are consistent with the various banking needs.
“We are honoured to be granted Qatar’s most innovative Islamic retail bank award for 2020 and I am confident that such recognition from a highly reputable international organisation will serve as an additional incentive to more innovative and outstanding products for our customers.”
It is worth noting that QIIB holds a remarkable rating by leading global credit rating agencies. Fitch has affirmed QIIB rating at ‘A’ with a stable outlook, while Moody’s affirmed QIIB rating at ‘A2’ with a stable outlook.
QIIB has also bagged many highly-reputable awards in recognition of its role and successful achievements in the banking system.
QIIB was established in 1990 as the second Islamic bank in Qatar and it is currently the third-largest bank in terms of assets and market value. QIIB began its operations in 1991 and it is listed on the Qatar Stock Exchange.
The bank provides comprehensive banking services to its customers through a wide network of branches located across the country, in addition, the Bank has diverse regional and international partnerships.