Established in 1982 as Qatar’s first Islamic financial institution, Qatar Islamic Bank (QIB) is the largest Private Bank in the country, with 23 branches, more than 170 ATMs and around 36% of the total assets of domestic Sharia-compliant banks. Rated AA- by Capital Intelligence (CI), A1 by Moody’s and A- by Fitch. QIB is also the second largest of all banks in Qatar, with a market share of 10% of assets, financing and deposits.
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, as well as Ladies only Banking Centers.
QIB is a stable group covering all segments of the financial markets, including individuals, government institutions, large corporations and SME’s providing innovative Sharia-compliant banking solutions that fit every segment’s needs.
QIB Group has a stake in a number of Qatari Sharia’-compliant financial services companies. This includes QInvest, an investment banking subsidiary, its affiliates Damaan Islamic Insurance Company – 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 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 and one branch in Sudan.
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 community. The Bank’s strategy is closely tied with Qatar’s National Vision 2030 and the Government’s commitment to investing in the country’s infrastructure, the diversification of the economy and the development of a diverse and sustainable private sector.
QIB has worked relentlessly to become a 24/7 service institution, offering customers the possibility to perform their daily banking needs through its award-winning Mobile App and Internet Banking platforms in any location, at any time of the day.
In recent years, QIB’s efforts have been focused on digitizing the banking experience for its customers. QIB’s digital transformation strategy is customer-centric, and the Bank has found innovative services and features for each customer segment to create a seamless experience, in a timely manner. QIB has replaced its core banking system, developed a brand new omni-channel digital platform for both retail and corporate customers, and embarked on a bank-wide digital transformation to make the use of all key products and services simpler, faster, and more convenient for customers. The bank has accelerated its investments in digital channels providing its services through the award-winning QIB Mobile App, as well as a Corporate customer specific Mobile App, internet banking platforms for retail and corporate clients, multi-functional ATMs, an Interactive Teller Machine (ITM) and an award-winning Call Center.