Qatar Islamic Bank (QIB), Qatar’s leading digital bank, has recently received two prestigious awards: “Best Islamic bank in Qatar” for the fifth consecutive year and “Best product launch in the Middle East” for its Corporate Mobile App, in the fourteenth edition of EMEA Finance Middle East Banking Awards 2021.

EMEA Finance Middle East Banking Awards recognizes the best commercial, investment and Islamic banks across the Middle East region, as well as brokers and asset managers.

Reinforcing its position as a leader in the banking sector in Qatar, QIB continues to deliver positive profitability growth, to strengthen its performance ratios and to improve its market shares. In the last few years, QIB’s efforts are focused on digitizing and improving the banking experience for its customers. QIB is the first Islamic Bank in the world to introduce digital end-to-end personal finance products, and the first bank in Qatar to introduce a Digital Onboarding Solution, the Instant Credit Card, and fully end-to-end digital accounts for domestic workers.

In light of the COVID-19 outbreak, QIB reacted quickly and innovatively launching, among other digital solutions, the QIB Corporate Mobile App, offering its SME and corporate customers a safe and convenient way to fulfil their banking needs remotely.

Commenting on the accolades, Mr. Bassel Gamal, QIB’s Group CEO, said: “Over the past years, we have been working hard to digitize our products to enhance the experience of our customers and we are proud to be recognized by EMEA Finance for our continuous efforts. Such awards mark QIB’s sustainable performance, best-in-class and innovative digital products, and our dedication to offering our clients the most convenient, safe, and secure banking experience.”

Mr. Bassel added: “Being a customer-centric bank, we have been even closer to all our customers during the last two difficult years of the unprecedented pandemic. We have provided strong support especially to our SME customers, initially through our own initiatives and later by participating in the QDB & QCB stimulus programs in order to smooth the Covid-19 negative impact on their business continuity. We are fully committed to supporting all our customers and keep on contributing to Qatar’s economic growth and diversification”.

QIB has announced the results of the nine months’ period ending 30 September 2021. Net Profit attributable to the Shareholders of the Bank amounted to QAR 2,525 Million for the nine months’ period ended 30 September 2021 representing a growth of 13.9% over the same period in 2020. Total Assets of the Bank now stands at QAR 186 Billion higher by 9.4% compared to September 2020 driven by the continued growth in the financing and investing activities. Financing activities have now reached QAR 127 Billion having grown by 12.3% compared to September 2020.

EMEA Finance is a leading bi-monthly global industry publication which reports on the major financial events initiated and influenced by the international financial industry active in Europe, the Middle East, and Africa.

Source: Qatar Islamic Bank