QIB Wins Banker Middle East’s “Best Treasury Products Management” Award
16/02/2015, Doha, Qatar
Qatar Islamic Bank (QIB), Qatar’s leading Islamic financial institution, has been awarded the title of “Best Treasury Products Management, Qatar” for 2014 at the Banker Middle East Product Awards.
This award came under the Banker Middle East’s category of “Quest for excellence”. The Banker Middle East Qatar Product Awards were established in 2005 by CPI Financial, publishers of Banker Middle East, to recognise banking products and services that are innovative and / or have generated exceptional financial results and growth in market share. The awards are based on a peer-vote process.
QIB Treasury had made major strides in enhancing liquidity management and integration of the treasury systems with trading platforms, and it continues to play a major role in the diversification of funding sources, reducing the Bank’s cost of funds.
The product structuring desk key initiatives have been implemented by setting up a designated team to work together with QIB’s Sharia Supervisory Board to design, implement, and make available innovative hedging and investment solutions that conform to Sharia principles. This structuring function has allowed QIB to offer bespoke solutions to clients across business divisions, as well as satisfying the Bank’s internal requirements. The new solutions have allowed both QIB and customers to efficiently manage risks across different asset classes.
Structured investments are engineered in-house, and include short term structured deposit products, as well as medium/long term structured investment solutions. Furthermore, a comprehensive Sharia-compliant legal framework has been developed for the purpose of executing efficiently a wide range of Sharia compliant transactions.
A dedicated sales function is assisting and supporting all the divisions within QIB to present the new solutions to all customers.
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