Asset magazine names QIB best islamic bank in Qatar

Hong Kong-based Asset Magazine has named Qatar Islamic Bank (QIB) best Shariah-principled bank in Qatar. QIB, which also received an award for the best Islamic deal in Qatar for its role as the facility agent for the Islamic tranche in Barzan $10.3 Billion gas project, was handed the award at a ceremony held recently in Malaysian capital, Kuala Lumpur. The Asset Magazine viewed that QIB had managed to set and enforce the highest standards for Islamic banking in Qatar and beyond, and performed consistently well despite the adverse global financial conditions and the rising local competition. QIB Acting CEO Ahmed Meshari said, “Our transformation programme launched last year has started to bear fruit, having a positive impact on the bank’s performance and our customer service levels allowing us to meet the growing expectations of our valued customers.” The Asset Magazine has been running Islamic finance awards for a few years now and has gained credibility in the market since then due to its stringent screening and short listing process.