The company hosts its general assembly on 19 March 2012

Doha, 06 March 2012 - Qatar National Bank (QNB) has been appointed as the official Dividend Distribution Agent for Industries Qatar, a public shareholding company listed on the Qatar Exchange. Incorporated in 2003 Industries Qatar is one of the fastest growing companies in the country and the region, with holding interests in Qatar Steel Company (QS), Qatar Petrochemical Company (QAPCO), Qatar Fertilizer Company (QAFCO) and Qatar Fuel Additives Company (QAFAC).

QNB will provide Industries Qatar with dividend distribution, dividend account administration and other administrative support services to ensure shareholders have easier and more efficient access to their earned dividends.

QNB and Industries Qatar held a press conference on 06 March to announce the three-year partnership which comes into effect on 14 March 2012.

The conference was attended by Mr. Ali Ahmed Al-Kuwari, Executive General Manager & Chief Business Officer, QNB, and Mr. Abdulrahman Ahmad Al-Shaibi, Chief Coordinator, Industries Qatar, in addition to the presence of senior officials from both sides.

Industries Qatar recently disclosed its 2011 financial results reporting a record QR7.9 billion in net profit for the year ended December 31, 2011, representing a year-on-year increase of 34%. The Board of Directors also recommended a dividend payout per share of QR7.5, representing 75% of nominal value. Industries Qatar will hold its Annual General Assembly meeting on 19 March, 2012.

Through QNB's Dividend Distribution Service, shareholders will be able to receive their dividends when visiting any QNB branch or can opt to have dividends directly deposited in their accounts.

The dividend payments can be paid directly into QNB accounts, local bank accounts, and international bank accounts.

This is a free service offered to all Industries Qatar shareholders. To benefit from this service, customers are required to complete a one-time registration for the e-dividends service through the form which is available on both QNB website and Industries Qatar's website. This service also extends to dependents and custodians of shares.

Shareholders can register by providing QNB with their shareholder number, ID card, or power of attorney by a custodian in the absence of the shareholder.

The funds are transferred directly to the shareholders bank account once registered. The service is based on QNB's intricate understanding of the specific needs of each partner, and follows detailed and intensive consultation with each partner to determine needs and outcomes.

QNB's dividend distribution service is built on a strong banking relationship with the shareholder, whilst providing the most advanced technological solutions in the market to be able to deliver this added value to shareholders.

QNB is one of the fastest growing banks in the MENA region and maintains a pioneering role in the provision of modern banking solutions to give its customers access to fast, efficient and secure banking facilities. These also include the Bank's suite of e-Banking services, eazylife, which is one of the leading electronic banking platforms in Qatar and the region.

QNB has in the past year been the official Dividend Distribution Agent for Qtel, Qatar Navigation and Qatar Gas Transport Company (Nakilat).

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About QNB Group
Qatar National Bank (QNB), established in 1964 as the country's first Qatari-owned commercial bank, has an ownership structure split between the Qatar Investment Authority (50%) and the private sector (50%).

QNB Group has steadily grown to be among the largest banks in the Middle East and North Africa Region and is by far the leading financial institution in the country with a market share exceeding 45% of banking sector assets.

QNB Group has witnessed rapid international expansion in the past few years and operates in 24 countries around the world through its network, subsidiaries and associate companies employing about 7,000 staff from 334 branch and offices that are supported by an ATM network that exceeds 600 machines.

The Group has also extended its regional reach by acquiring stakes in various financial institutions including 35% stake in the Jordan-based, The Housing Bank for Trade and Finance (HBTF), 24% in Commercial Bank International (CBI) based in the United Arab Emirates (UAE), 50% of the Tunisian-Qatari Bank, 23% in the Iraqi-based Mansour Bank and 20% stake in Al Jazeera Finance Company in Doha. QNB Group also retains 51% stake in QNB-Syria, a private stock company established jointly with other Syrian private and public sector institutions which started operations mid November 2009 and operates today more than 15 branches in the Syrian Republic.

QNB Capital, a subsidiary of QNB Group, was established in 2008 providing an array of investment banking services to corporate, government and institutional clients within Qatar and globally. These include one of the best corporate finance teams in the GCC region offering extensive transaction experience, in depth advisory services - including mergers and acquisitions, equity, debt and project advisory, as well as first-class research capabilities.

QNB Financial Services (QNB FS) commenced trading on the Qatar Exchange in May 2011 and is the first independently regulated, licensed brokerage unit launched by a bank in Qatar.  QNB FS brokerage offers a multi-market, multi-currency trading platform with access to several GCC markets including Qatar, UAE, and Oman.  It also provides a trading solution for buying and selling securities on the US and European markets.  QNB FS' technology platform is enhanced by its in-house research team who provide fundamental research and analysis, sector reviews, and daily commentary on QE listed equities.  Its advisory and brokerage teams are structured to service institutional investors, mutual funds, high-net worth individuals, retail and corporate clients locally, regionally, and globally. 

QNB Group is among the highest rated regional banks from leading credit rating agencies including Standard & Poor's, Moody's, Fitch, and Capital Intelligence. The Bank has also been the recipient of many awards from leading international specialized financial publications.

QNB Group has an active community support program and sponsors various social, educational, and sporting events

For further information, please contact QNB's Public Relations Department at (+974) 44252477, Fax (+974) 44252589, email: PR@qnb.com.qa or visit QNB's website www.qnb.com.qa

© Press Release 2012