"You Choose, We Finance": Innovative service which allows customers to easily own properties outside Qatar across four continents

IBQ is the first Qatari bank to offer a multi-national property finance solution

The service is launched in partnership with National Bank of Kuwait (NBK), the highest rated bank in the Middle East.

Doha, Qatar, 27 November, 2011: IBQ and National Bank of Kuwait (NBK) today announced the launch of a joint service that will allow customers to effortlessly own properties outside Qatar in the country of their choice.  The launch in partnership with NBK marks the first time that a local Qatari bank offers a multi-national property finance solution that spans four continents.  The finance solution will help customers looking to buy properties in the UK, USA, France, Lebanon, Egypt, UAE and Jordan.

The major benefit of the new service is that it will make purchasing property abroad hassle-free.   The simple and straightforward application process involves the customer applying for a loan in Qatar, while IBQ and NBK take care of the rest of the process. Customers will benefit from competitive interest rates and long tenures.

Philip King, AGM of Retail Banking at IBQ, commented: "By tying up with our partner NBK on this exciting new service, IBQ continues to provide highly competitive value-added products and benefits and more importantly, the best available choices for our customers looking to purchase property overseas.  Our international reach through the extensive NBK network will ensure the process is simple and direct."

The unique "You Choose, We Finance" service is yet another exceptional innovation providing more choice and options for retail customers.  IBQ is continuing to generate highly competitive products with key benefits for its clients. Reflecting the bank's commitment to deliver the best in customer service and experience, this new product confirms IBQ as the Bank of Choice in Qatar.

Mazin Al Nahedh, NBK General Manager for Consumer Banking Group, said: "NBK employs its largest international network to provide its customers with the best investment opportunities and services.  Our partnership with IBQ means that IBQ customers can start looking for properties in the UK, USA, France, Lebanon, Egypt, UAE and Jordan.  We encourage them to benefit from this opportunity to achieve their investment goals."

The new service is available through NBK's substantial international network.  IBQ is 30% owned and managed by NBK, the largest bank in Kuwait. NBK's international presence spans the world's leading financial centers, including London, Paris, New York, Singapore and Shanghai.  Its regional coverage encompasses Lebanon, Jordan, Iraq, Egypt, Bahrain, Qatar, Saudi Arabia, the UAE and Turkey.

Aimed at current and potential new IBQ customers, the service exemplifies the partnership with NBK, bringing local expertise and international reach to customers in Qatar.

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About The International Bank of Qatar (IBQ):
The International Bank of Qatar (IBQ) is a well established and rapidly growing commercial institution, offering a full range of retail, private and corporate banking solutions. IBQ has a strong commitment to build long-lasting relationships with its customers and provide them with excellent customer service with a focus on making banking simple, convenient and tailored to their needs. IBQ is one of the oldest existing banks in Qatar and celebrated its 50th anniversary in 2006. It has a growing network of 12 branches and service centres, and 34 ATMs in strategic locations throughout Qatar.

In June 2009, IBQ was recognised as "the fastest moving bank" in the Middle East and North Africa region and the 26th fastest mover globally in The Banker magazine's Top 1,000 World Bank survey 2009. This commitment to customer relationships and best practice is reflected in the numerous awards won by the bank, including "Best Customer Service" award in 2008, 2009, 2010 and 2011 from Banker Middle East Magazine and "Best Retail Bank in Qatar 2011" from Arabian Business.

IBQ is 30% owned and managed by the National Bank of Kuwait (NBK), the largest bank in Kuwait and the highest rated in the Middle East. IBQ is a growing bank that benefits from an international network as a result of its affiliation with NBK which gives its customers access to greater resources and a wide range of international services.

About National Bank of Kuwait (NBK):
NBK was incorporated in 1952 as the first local bank and the first shareholding company established in Kuwait and the entire Gulf region. Over the years, NBK has maintained its position as the leading banking institution in Kuwait and built a well-established banking franchise across the Middle East. NBK currently operates in 17 countries boasting one of the largest overseas networks spanning many of the world's financial and business centers.

NBK has always been recognized for the excellence of its stable management team along with its clear strategy. NBK's strength rests in its consistent profitability, high asset quality and strong capitalization. The bank offers a full spectrum of innovative and unrivalled financial and investment services and solutions for individuals as for corporate and institutional clients. NBK currently enjoys a dominant market share with a large and ever expanding local and regional client base.

NBK has consistently been awarded the highest credit ratings of all banks in the region by the major international rating agencies: Moody's, Standard and Poor's, and Fitch Ratings. In 2010, NBK was named by Global Finance, The Banker and EuroMoney as the "Best Bank in Middle East" and was also ranked 38th in Global Finance's list of the 50 safest banks in the world, for the second consecutive year. 

For further information, please contact:
Hala Kassab/Aileen Andojar
ASDA'A Burson-Marsteller
T: +974 4 4351 113
F: +974 4 4351 511
E-mail : h.kassab@asdaa.com /a.andojar@asdaa.com

Muna Khogali
Head of Corporate Communications
International Bank of Qatar
Dir: +974 4 447 3017
Fax: +974 4 447 3710

© Press Release 2011