DOHA: Qatar Islamic Bank (QIB), the leading Islamic institution in Qatar and owner of the largest Islamic banking network in the world, will introduce unique banking systems throughout its growing service network.
These innovative systems include a Cash Deposit Machine (CDM) and Cheque Processing Machine (CPM) that are integrated into a single unit which will enable customers to deposit cash and cheques into their account. The advanced dual function machines will be installed at all 27 branches by the first quarter of 2011.
QIB begins its upgrading campaign by installing the first CDM and CPM unit at the Al Fanar branch. Integrating these state-of-the-art machines will be undertaken in stages to gradually introduce this latest innovation. Access to the new units will be available 24 hours a day for both retail and corporate customers.
The machines accept cash deposits of QR50 notes and above, and will allow clients to make direct deposits into their account. The process of depositing cheques is exactly the same, as the CPM uses an advanced system to scan and authenticate cheques. QIB customers will benefit by being able to further handle their finances outside of banking hours, which will provide improved cash management and flow.
QIB's Acting Chief Executive Officer Ahmed Meshari said, "As the Bank of the Year 2010 by Arabian Business, one element that is pivotal to QIB's current success is that we continually create pioneering products and services." He said this latest enhancement will strengthen QIB's banking network and provide clientele with more accessible services.
"Locally, we will soon expand our network of branches to 35 and increase our number of ATM outlets to more than 100. QIB is elevated above the competition because of its expanding Islamic banking network, and our organization's efforts to cultivate the local economy through innovative operations," he said.
© The Peninsula 2010
