Whether you want to open an account, apply for a finance, or get a credit card for your day-to-day purchases, we have all what you need...
Qatar offers a world of investment opportunities for local and international companies, whether it's a small, medium or large business, QIB offers a range of Shari'a compliant solutions to help you grow your business...
As a valuable QIB customer, you deserve to be served with excellence. That's why we launched Tamayuz, our priority banking solution. The exclusive and distinguished benefits of Tamayuz are designed to provide you...
Ladies have multiple roles and responsibilities leading to diverse financial needs. QIB Ladies Banking empowers women like you with the tools to achieve your financial goals, realise your professional aspirations and unique lifestyle. QIB’s Ladies Banking propostion is our answer to the increasingly active and important role that women in Qatar are fulfilling. We provide our ladies clients with a wide and tailor-made range of world class banking products and services in a unique environment of total privacy and comfort. Our highly qualified and well-trained female staff will be pleased to assist you with all your banking needs.
For some, it's easy to measure success: It's all about what you have. For us, it's more complicated than that. It's about what you do with what you have. It's about making a difference. It's about the whole picture.
QIB-UK, a wholly owned subsidiary of Qatar Islamic Bank Group, was fully authorized as an Islamic Bank by the UK Financial Services Authority in January 2008.
QIB offers a wide range of trade services, you can benefit from our streamlined processes based on a sound technological backbone that are designed to provide best in class service levels, and reduce the hassles associated with trade transactions. Whether you are an importer or exporter, our correspondent network of over 150 foreign banks relationship will ensure that we meet all your international requirements.
Letter of credits (LCs) issued by QIB give you and your suppliers comfort and security by helping to mitigate the inherent risks of international trade. The bank substitutes its own credit for that of the importer to pay for goods and services within a prescribed time limit and against compliant documents. With LCs, payments will only be made upon presentation of the required documents, giving comfort to both buyer and supplier.
Key benefits of LCs issued by QIB
Payment can be effected at sight or deferred basis.
Types of Letter of credits issued by QIB
Forms of Letter of credits issued by QIB
At the request of customer QIB advise the LC with or without confirmation to the advising bank by giving strength to the customer for exporting the goods and payment receipt.
Qatar Islamic Bank offers a very prompt and efficient services on letters of credit confirmation, advising, paying, negotiating facilities to exporters. QIB's Letters of Credit confirmation service is used when exporters may have to deal not only with unknown foreign buyers, but also with their banks which are less well known institutions and whose letter of credit may not provide sufficient assurances.
By requesting QIB to confirm your export LCs, you obtain a guarantee of payment for document presented in compliance with the credit.
We at QIB's have a dedicated team of professionals trained and supported by state of the art business solutions to have the presented documents checked to the highest standards and to ensure that your pre-checked documents are processed straight through, without rejection. Not only do we provide an outstanding service, we also ensure that all documents are negotiated and dispatched timely. As an extension to our commitment to excellence, we also have an option of safe keeping original documentary credits, where we send the beneficiaries a working copy to facilitate the preparation of documents.
A Letter of Guarantee (LG) issued by QIB covers an agreement by the Bank to pay another party (the beneficiary) if the Bank's customer (the principal or applicant) defaults in his debt or obligation (a job contract) to the beneficiary.
Documentary collections are an additional option to documentary credits. Your supplier presents the necessary documents, with instructions, to their bank which forwards the documents to your bank for payment. Your supplier is paid once the payment is debited from your account, with no hidden interest or payment delays.
Types of documentary collection services:
Benefits to your business:
Clean Bill comprises financial documents such as Bills of Exchange (Drafts), Promissory notes, Cheques or other similar instruments without any accompanying documentation. Clean collections are frequently used for the settlement of trade on open account and for services rendered.
When documents are accepted from customers sent for realization under a collection schedule to the collecting / presenting bank, the transaction is termed as an Export Bill for Collection (EBC).
In situations when your goods arrive before the shipping documents have been processed through the banking system, QIB can issue a shipping guarantee. This allows you to take possession of the goods without the transport documents. Thus you avoid unnecessary delays and missed business opportunities.
Click here to download the Tariffs Trade Finance