The Qatar Islamic Bank (QIB) provides Shariah-compliant personal and corporate banking through a network of 18 branches across Qatar, as of 2007. Established as the first Islamic bank in Qatar in 1982, it developed into one of the top ten listed companies in the country with QAR15.48 billion (USD4.25 billion) in market capitalization by the end of 2006.

QIB's subsidiaries include Al Jazeera Islamic CompanyAl Jazeera Islamic Company, an Islamic financial services company and Al Aqar Real Estate Development and Investment. The Bank's investments include the Arab Finance HouseArab Finance House, which was established in Lebanon in 2003 with a capital of USD100 million. QIB and the Gulf Finance HouseGulf Finance House incorporated QINVEST in the Qatar Financial CentreQatar Financial Centre in 2006, with a capital of USD1 billion. QIB entered the Far East in April 2007, with the establishment of the Asian Finance Bank (AFB). QIB established the European Finance House (EFH) in London to become operational in 2007. EFH will draw investments from Europe, manage real estate assets, and provide Islamic investment services in Europe.

The bank's 2007 financing projects include co-financing an Airbus plane for Qatar AirwaysQatar Airways, co-financing of the QAR225 million (USD62 million), Al Waab cityAl Waab city project, and the QAR228 million (USD63 million) financing of Al Faisal Tower. QIB is also in the process of establishing a mega commercial and investment bank in Sudan with a capital of USD1 billion, and a bank in Pakistan with paid-up capital of USD100 million.

QIB has plans to increase its branches in Qatar to 22 by the end of 2007.