Qatar Islamic Bank (QIB) was the first Islamic bank to start operating in the country in 1982 and it is still the largest today: The Bank currently holds 42% share of the Islamic banking sector and approximately12% of the total domestic banking sector. As of end September 2017, the total Shareholders' Equity of the bank amounted to QAR 14.9billion (4.09 billion US Dollars) with total assets reaching QAR 149 billion (40.39 billion US Dollars).
QIB conducts its domestic business through a modern branch network spread throughout Qatar with key branches featuring distinctive centers with specialized relationship managers focused on servicing specific customer segments: Private Banking Centers, Affluent Banking Centers, Small & Medium Enterprises (SME) Centers as well as Ladies Banking Centers. In addition to its branch network, the Bank has accelerated its investments in digital channels providing its services through multi-functional ATMs, mobile and internet banking applications for individuals and companies, and an award winning Call Center.
QIB’s growth strategy is built on its position as a leading Islamic Bank with deeply rooted customer relationships and strong engagement with the local communities. The Bank’s strategy is closely tied with Qatar’s National Vision 2030 and the Government’s commitment to investments in the country’s infrastructure, the diversification of the economy and the development of a strong private sector. QIB is a stable financial group covering all segments of the financial markets, including individuals, government institutions, large corporations and SMEs providing innovative Sharia-compliant banking solutions. Driven by a genuine commitment to continuously increase value for its customers, its shareholders and the Qatari society, QIB will keep on focusing on being a customer-centric, efficient bank meeting the expectations of all its stakeholders.
QIB Group has a stake in a number of Qatari Sharia’-compliant financial services companies. This includes QInvest, its investment banking subsidiary, and its affiliates Beema (Takaful solutions provider) and Al Jazeera Finance (Consumer Finance company).
The Group has established an international presence in key markets so as to be able to serve the cross border needs of its customers as well as to develop a focused presence in geographies with high interest in Islamic banking services. QIB UK is a wholly owned subsidiary, established in 2008, covering the financial needs of Qatari individuals and companies in the United Kingdom. Furthermore, the bank has presence in Lebanon through Arab Finance House, in Malaysia through Asian Finance Bank and one branch in Sudan.
In July 2017, Moody's Investors Service, ("Moody's") has affirmed QIB Long term deposit ratings at “A1”. In June 2017, Fitch Ratings affirmed QIB’s Long Term Issuer Default Rating (IDR) at 'A+' and S&P reaffirmed QIB’s rating at “A-“.
In light of the Bank’s performance and continuous innovation, QIB is being recognized by highly reputable international financial publications and reports as one of the leading regional Banks.