- Recognizing QIB’s outstanding performance and digital banking leadership, Euromoney has awarded QIB with three prestigious awards in the 2022 “Awards for Excellence”
Doha, Qatar – Qatar Islamic Bank (QIB), Qatar’s leading digital bank, has been named “Best Bank in Qatar”, “Best Bank for Digital Solutions in Qatar”, and “Best Bank for Islamic Finance in Qatar” by Euromoney Magazine at the Awards for Excellence 2022 ceremony held recently in Dubai.
Judged by a panel of experts, the new accolades recognize QIB’s clear strategy, longstanding position as a leading Bank in Qatar, and stellar financial performance delivering record total assets of QAR 193 Billion in the first three months of 2022. Additionally, the “Best Bank for Digital Solutions in Qatar” award recognizes QIB’s commitment to a customer-focused approach and leadership in digital banking. While “Best Bank for Islamic Finance in Qatar” strengthen its position as the benchmark of Islamic Banking in the country.
QIB continued to strengthen its leadership in the local banking sector over the past year, maintaining its position as the largest Islamic bank in Qatar. The Bank outperformed the market in terms of Net Profit growth, having a CAGR of 8.9% for the three-year period from 2019 to 2021, and achieved the best cost to income efficiency ratio in Qatar and the MENA region.
QIB’s success derives from the strategic vision of its Board of Directors, and the focused implementation of its business strategy. A key factor which contributes to the Bank’s growth is the resilience of Qatar’s banking sector and the overall national economy of Qatar.
QIB is committed to digitalisation catering to customers’ increasing reliance on digital channels for their banking needs. With a solid digital transformation strategy, the Bank is constantly implementing significant improvements across all customers’ online channels. Through its Mobile App, QIB has introduced new and first-to-market features, in addition to launching innovative products and services to enhance and revolutionize the overall customer experience.
The Bank has significantly improved its corporate online offering but introduce the all-new Corporate App, improved Corporate Internet Banking and state-of-the-art Payment Solutions and Payroll system.
“We are honoured to receive three awards from Euromoney, one of the most prestigious and respected financial publications, recognizing not only our profitable and robust performance, but also our efforts in disrupting traditional banking by adopting emerging technology and accelerating the digital shift in Qatar. “On this occasion, I would like to thank the Board of Directors for their continuous support and each one of our team members for their exceptional performance and dedication. Big appreciation goes also to our customers for their continued loyalty, trust and suggestions that enabled us to serve them better,” said Mr. Bassel Gamal, QIB Group CEO.
“Best Bank in Qatar; represents QIB’s position as a leading bank being able to offer Shari’a compliant products and services to all customers in the financial sector”. “This award is a testament to QIB’s success in strengthening its leadership and its vital role in the banking sector in Qatar”, Bassel Gamal added.
“Our genuine customer-centric approach has enabled us to become a leading Bank supporting the modernization and economic growth of the country with our strategy being closely tied with Qatar’s National Vision 2030”, He concluded.
QIB has been embracing the latest technologies to streamline its operations and to offer its customers a better banking experience. Despite the challenging market conditions, the Bank demonstrated its resilience while leveraging digital banking to better serve its customers. This new recognition is only a motivation to continue increasing the capabilities across all the products and services to deliver the most reliable experience to our customers.
Established in 1992, the Euromoney Awards for Excellence were the first of their kind in the financial publishing industry and are the most significant banking awards in the industry. Recognizing the achievements of banking institutions, the awards program celebrates outstanding financial institutions around the world that deliver excellent services and a seamless banking experience to their customers.
For more information, visit www.qib.com.qa