Financial Inclusion Position Statement
Introduction
Qatar Islamic Bank (QIB) is committed to advancing financial inclusion in alignment with the Qatar Central Bank’s (QCB) Financial Inclusion Strategy and the objectives of the Qatar National Vision 2030. Financial inclusion is recognized both nationally and globally as a driver of sustainable economic growth, social equity, and financial stability.
As a Shari’a-compliant institution, QIB ensures that its financial services are designed to be fair, transparent, and accessible, while meeting the diverse needs of individuals, households, and businesses. This position statement complements QIB’s Sustainability Policy Framework and embeds measurable commitments to inclusive and responsible finance.
Position Pillars
QIB’s Financial Inclusion Position Statement is anchored on three key pillars:
- Access – ensuring underserved individuals (including youth, women, domestic workers, elderly, people with disabilities, and first-time bank customers) and SMEs can obtain affordable, Shari’a-compliant financial services.
- Usage – encouraging responsible and active use of financial products through digital platforms and education.
- Quality – providing services that uphold transparency, consumer protection, and long-term financial well-being.
Key Commitments
1. Expanding Access to Financial Services
QIB is committed to ensuring that every customer segment, including youth, women, domestic workers, elderly, people with disabilities, first-time bank customers, and small businesses, can access affordable and relevant banking solutions. This includes simplified account opening procedures, basic low-cost accounts, and Shari’a-compliant microfinance and SME products tailored to the needs of new market entrants.
By expanding its product reach and maintaining a strong network of branches and ATMs alongside digital-first services, QIB ensures that financial access is available across both unbanked and underserved populations in Qatar.
2. Promoting Digital Inclusion
Recognizing the central role of digital finance in enabling inclusion, QIB actively supports Qatar’s National Fintech Strategy and cashless economy objectives. The Bank invests in digital innovations such as the QIB Lite App, QIB Junior, online banking, e-wallets and contactless payments, which reduce costs and broaden reach.
Digital onboarding processes make account opening faster and more accessible for first-time customers, including youth and domestic workers. QIB emphasizes cybersecurity and data protection, ensuring that digital inclusion aligns with customer trust and safety.
3. Supporting SMEs and Entrepreneurs
QIB recognizes SMEs as a vital part of Qatar’s economic diversification and job creation. The Bank provides tailored Shari’a-compliant financing solutions for SMEs, including working capital support, project financing and advisory services. QIB collaborates with Qatar Development Bank (QDB) and other national institutions to expand SME access to finance and strengthen business resilience.
Through SME support, QIB directly contributes to Qatar’s private-sector development and the broader goals of Qatar National Vision 2030.
4. Financial Literacy and Awareness
QIB acknowledges that access to finance alone is insufficient without the knowledge to use services responsibly. The Bank invests in financial literacy programs enabling customers to understand digital banking tools, manage household budgets, and use credit responsibly.
These initiatives are tailored to unbanked or underserved groups, including youth, women, domestic workers, elderly, people with disabilities, and first-time bank customers. QIB partners with schools, universities and community organizations to support QCB’s financial literacy objectives. Program outcomes are disclosed annually in the Bank’s Sustainability Report.
5. Preventing Over-Indebtedness
Preventing over-indebtedness is a core component of QIB’s commitment to responsible banking. The Bank applies QCB regulations on debt burden ratios, credit assessments and consumer protection to ensure that customers do not take on unsustainable debt.
All retail and SME financing decisions include affordability checks, income verification and compliance with QCB’s mandated limits on repayment capacity. Employees receive training on responsible borrowing and ethical sales practices. Customers receive transparent information regarding profit rates, repayment terms and obligations prior to entering any financial commitment.
6. Consumer Protection and Customer-complaint Resolution Channels
QIB is committed to transparent, fair and accessible customer service. Multiple complaint channels are provided — branches, call centers, digital platforms and the mobile app — in line with QCB’s consumer protection standards as set out in Law No. 13 of 2012 and related instructions.
QIB monitors resolution times and publicly reports service improvements. All financial products are presented with clear disclosures to avoid hidden fees or misleading terms, strengthening trust and regulatory compliance.
7. Engagement with Stakeholders
QIB recognizes that financial inclusion is a shared responsibility. The Bank collaborates with QCB, QDB, fintech partners and civil society organizations to expand inclusive finance initiatives. By engaging with government programs and industry peers, QIB addresses real barriers faced by underserved groups while supporting national priorities.
Governance and Oversight
The Board of Directors holds ultimate oversight for all sustainability-related topics, including financial inclusion. The Board ensures that inclusive finance objectives are integrated into the Bank’s strategy, governance framework and risk appetite.
The Sustainability Committee—chaired by the Group CEO and composed of Executive Management—oversees implementation, monitors progress and ensures integration across business lines. The Committee reports regularly to the Board on achievements, challenges and regulatory compliance.
Monitoring and Disclosure
QIB systematically tracks and transparently reports financial inclusion initiatives. Monitoring includes quantitative indicators such as SME financing growth, digital adoption and new low-cost accounts; and qualitative outcomes such as financial literacy impact and customer complaint-resolution effectiveness.
Progress is reviewed by the Sustainability Committee and reported to the Board. Key results are disclosed annually in the Sustainability Report.
In line with QCB requirements, disclosures highlight:
- Accessibility of services across demographic and income groups.
- Responsiveness and timeliness of complaint and dispute resolution.
- Compliance with responsible lending and consumer protection rules, including QCB debt burden ratios.
By embedding monitoring into its governance and disclosure framework, QIB demonstrates accountability and ensures continuous improvement aligned with national standards and stakeholder expectations.
Review and Alignment
This position statement is reviewed regularly to ensure alignment with Qatar’s laws and regulations, including QCB’s Third Financial Sector Strategy (2023–2027), the Qatar National Vision 2030 and the UN Sustainable Development Goals.