Digital

QIB awarded “The Best Islamic Bank in Qatar” at Euromoney Conference

QP

QIB Press

Digital Desk

Mar 13, 2013 | 8 Minutes

Award badge or trophy image highlighting an international recognition.

Qatar Islamic Bank (QIB), the leading Islamic Bank in Qatar, has been awarded the Euromoney Award as the Best Islamic Bank in Qatar for the year 2012. The award was but the latest in a string of accolades given to the Bank, based on the performance of the past year.

The Euromoney Awards for Excellence are considered the leading banking awards that single out the banking institutions offering wholesale and corporate services. The awards are granted to financial institutions that have a proven record of excellence, innovation and leadership in the financial and banking services they provide to the markets in which they excel.

The Euromoney Award was presented at the Islamic Finance Summit held recently in London, which attracted top players in the global Islamic Finance industry, including QIB that participated as Platinum sponsor. It was received by QIB’ Deputy CEO Banking Group – Qatar, Ahmad Meshari.

In accepting the award, Ahmed Meshari affirmed that QIB provide a progressive Shari’a-compliant banking. Islamic Banking is becoming an increasingly popular alternative to conventional forms of banking and funding and is rapidly becoming more advanced and sophisticated in the region, while at the same time expanding into new, emerging markets.

Finally, QIB has posted impressive financial figures over the past year in what remains an uncertain economic environment, it was announced that the Banks assets had jumped to QR 73.2 billion, a growth rate of 25.6% year-on-year, with financing activities continued to be the major growth driver, reached QR 43.1 billion, and represented 45.7% growth compared to 31st December 2011. Customer Deposits of the bank registered strong growth and stood at QR 43.1 billion by end of 2012 – a figure 55% higher when compared to 31st December 2011, reflected a well balanced financial position.

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