(MENAFN – The Peninsula) The Peninsula
Doha: Qatar Islamic Bank (QIB) received the prestigious âIslamic Bank of the Year in Qatarâ award for the 9th consecutive year and âIslamic Bank of the Year in UKâ at the Islamic Bank of year 2021 of Banker Magazine.
The two prestigious titles were awarded to QIB Qatar and QIB UK respectively, in recognition of their outstanding performance through 2020 and their success in outperforming the competition in terms of financial performance, digitization of banking products and innovation in the world of Sharia compliance. banking in Qatar and the United Kingdom.
Founded in 1926, The Banker Magazine is read by top decision makers from the world’s largest financial institutions. Through its annual Islamic Bank of the Year awards program, the publication produces comprehensive rankings of top Islamic financial institutions to promote and reward excellence within the global Islamic banking community.
Commenting on the awards, Bassel Gamal, CEO of QIB Group, said: âWe are honored to have once again received the Islamic Bank of the Year award in Qatar as well as in the UK, further testimony to our success. in sustaining banking in Qatar and beyond with the support of the Board of Directors and the efforts of all QIB employees.
âQIB has transformed Islamic banking in Qatar, the region and around the world with innovative and digital products and solutions. Our customer-centric approach and commitment to excellence have positioned us better to continue to execute our long-term business strategy, while remaining focused on creating value for our shareholders and revolutionizing the industry â, Gamal concluded.
Rated âA1â, âA- / A-2â and âAâ by Moody’s, S&P and Fitch with stable outlook, QIB has managed to maintain positive financial performance levels in 2020 despite the impacts of the COVID- pandemic. 19. QIB recently announced the results for the period ended March 31, 2021. Net profit attributable to shareholders of the Bank amounted to QR 750 million for the period ended March 2021, an increase of 9.1% from compared to the same period in 2020.
Being the first and only Islamic bank in Qatar to introduce end-to-end digital products through its mobile app, such as instant finance, instant credit card, digital onboarding, and domestic worker digital account, QIB continues to serve its customers in the fastest, safest and most convenient way. Thanks to QIB’s award-winning mobile app, new customers can open their first account and existing customers get personal financing or a credit card in just a few simple steps in less than 5 minutes.
QIB is also the only Islamic bank in Qatar to launch a business-only mobile app, an integrated host-to-host (H2H) online payment management solution for its large businesses and SMEs, and the only Islamic bank in Qatar to launch a suite of integrated services through its smart point of sale, including postal delivery services and telecommunications billing and payment.
QIB UK posted positive financial performance on key metrics in 2020 including net earnings, return on equity, cost-to-income ratio and non-performing loan ratio. The Bank has also launched a mobile banking project which now allows private customers to access their bank accounts via the Internet or mobile. This digital solution enables QIB UK customers to manage their banking needs remotely, including account, card and payment management from anywhere in the world, 24/7.
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