Jan 23 2012
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Islamic Holding Group posts 16pc net profit
The results showed that the net profit of the Group by the end of December, 2011 was QR4.6m, compared with QR4m by the end of 2010, a growth of 16 percent.
The total assets of the Group were QR576.4m, compared with QR173.5m at the end of last year, which shows a growth rate of 232 percent.
Sheikh (Dr) Khalid bin Thani bin Abdullah Al Thani said the group is moving in the right direction to strengthen its presence and identify the various activities that it will enter into, which will be good for the company and its shareholders and Qatari economy as a whole.
If Islamic Holding Group finds good opportunities abroad, it will pursue these with due diligence and proper risk management. Keeping risk at the lowest possible level is a top priority of the company in the interest of its shareholders.
"Our strategy evolved by the Board of Directors will be implemented step by step. We hope there will be some achievements by the year-end, because the company will have all technical systems and processes in place," he said. Islamic Holding Group will actively pursue all Shariah-compliant activities. This will be good for the Qatari economy, he said.
© The Peninsula 2012
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