IslamicFinance.de

Qatar Islamic Bank is introducing specific sector-related packages which shall correspond to the different needs of SMEs. The first such packages focus on the key sectors of construction, trading and services. A new programme is being launched which shall providing special services to the country's small and medium sized enterprises. Exclusive financial benefits, guidance and advice will be offered. The programme is named Aamaly and will support SMEs which are recognized as one of the main contributors in innovation and job creation in the country.

Arab investors in a €400m (US$516m) French property fund operated by Dubai Islamic Bank (DIB) are seriously thinking about legal action because they have received neither any dividend nor audited financial statements on the fund's status for the last three years. The launch of the Al Rayyan II French Property Fund took place in 2005. It is managed by Qatar Islamic Bank (QIB) on behalf of DIB. The fund was used to invest in several income-producing properties in France. Initially, a yearly return of around 8% was given to the investors.

QIB UK, which is situated in London, has closed its seventh Islamic capital-protected note. The bank's plans further include rolling out similar products every year. Since the launch of its "Hemaya" structured note programme in 2010, QIB UK was able to raise over US$190m. US$153m of the sum were raised by the first six tranches.According to Anouar Adham, the bank intends to launch several tranches every year.

Qatari-based Barwa Bank considers an initial public offering on the Doha stock exchange. The IPO adviser is QInvest, a local investment bank controlled by Qatar Islamic Bank.

See more under: http://www.reuters.com/article/2012/10/01/us-idUSBRE8900A420121001

Qatar Islamic Bank (QIB) which is the largest sharia-compliant lender in the country, is arranging an issue of a five-year benchmark-sized Islamic bond. The expecting value of the sukuk shall be at least $500 million.

See more under: http://www.reuters.com/article/2012/10/02/qatar-qib-sukuk-idUSL6E8L2BVU2...

Deutsche Bank claims the GCC bond sales will remain strong as companies in these countries look for alternative financial sources as those of European banks that are continuously declining. CEO for the Middle East believes that the GCC region relies a lot on bank loans, which are going to be less and less accessible.

See more under: http://www.bloomberg.com/news/2012-09-30/deutsche-bank-s-aram-says-gulf-...

Qatar Islamic Bank's first-quarter profits jumped 21% on higher fee and commission revenue, beating analysts estimations.
Qatar’s banks improved lending as the country raised spending on infrastructure including a new airport, seaport, roads and rail systems. Central bank data reveals that the nation’s total credit facilities, including loans, rose an annual 31% in February while deposits were up 5.5%.

According to an interview with the CEO of Qatar Islamic Bank the bank signed with Banque Populaire Caisse d’Epargne an agreement to establish the first Islamic bank in France 2012.

The source is not confirmed by other media and similar news appeared in 2011 before.

The next big thing in the GCC's Islamic insurance industry appears to be the bancaTakaful model.
After last week Qatar Islamic Bank distributed Damaan Islamic Insurance Company's Takaful products, retail Islamic bank, Bahrain Islamic Bank (BISB) communicated that it had signed an agreement to distribute Bahrain-based Takaful International's products to its customers.

The stockwas of QIB flat at 77 Qatari rials, as the QE Index fell 1.02 per cent to 8,156.60.
If the planned tie-up between Al Khaliji Commercial Bank and International Bank of Qatar, now called off, would have happened, it would have created different prospects for QIB. Also a potential threat from HSBC Amanah is vanishing.

The Central bank of Indonesia estimates that the nation’s Islamic assets will improve by 55% this year.
That's why Albaraka Banking Group and Qatar Islamic Bank have a goal: to produce Shariah-compliant financers in Indonesia.
Chief executive Adnan Ahmed Yousif pointed out that Albaraka is ready to spend $100 million on an acquisition.
Indonesia has 11 full-fledged Islamic lenders and 23 other banks that offer Islamic services. The government want to begin selling short-term Islamic treasury bills for the first time in the second half of the year.

Qatar Islamic Bank wants to enter the Turkish market and is looking into buying other Islamic units in Qatar, its acting CEO Ahmad Meshari said in Doha yesterday.

Qatar Islamic Bank is searching for acquisitioning targets in Indonesia in order to boost its presence in Asia and tap demand for sharia banking products in the world's most populous Muslim nation.
Qatar Islamic is studying several potential candidates in Indonesia that have been identified by Asian Finance Bank.

The facility is to finance expansion plans by the Qatari retailer, which is increasing the number of stores it operates and is moving into direct imports.
Qatari companies, including Qatar Islamic Bank, Qatar Telecom QSC and Qatar National Bank SAQ, have turned to debt markets this year.

The UK unit of Qatar Islamic Bank (QIB) has discovered a new strategy for small to medium-sized British companies with limited access to conventional sources of credit.
QIB (UK) has formed a partnership with alternative asset manager Eden Rock Capital Management to lend to UK companies in the Eden Rock Direct Lending Fund.

Fitch Ratings has affirmed Qatar Islamic Bank's (QIB) ratings as Long-term Issuer Default (IDR) 'A' with Stable Outlook, Short-term IDR 'F1,' Individual 'C,' Support '1' and Support Rating Floor 'A.'
The Individual Rating (or stand-alone strength) reflects QIB's position as the leading Islamic franchise with a nearly 50 percent share of Islamic assets and a nine percent overall market share of system assets, in addition to the Bank's high earnings power from core banking and healthy capital ratios.

Fitch Ratings has affirmed Qatar Islamic Bank's Long-term Issuer Default Rating (IDR) at 'A' with a Stable Outlook. Fitch has simultaneously affirmed QIB's Short-term IDR at 'F1', Individual rating at 'C', Support rating at '1' and Support Rating Floor at 'A'. At the same time, QIB Sukuk Funding Limited's $ 750m Sukuk issue of senior unsecured trust certificates has been affirmed at 'A'.
QIB's Individual Rating also considers the bank's well-established and strong domestic franchise, together with an environment reflecting high levels of economic activity. Fitch considers that the trend of rapid credit growth could negatively affect the bank's financial performance indicators as the loan book seasons or if there were further stresses in Qatar's real estate segment.

Salah Al Jaidah is not the CEO of Qatar Islamic Bank anymore. He has instead been appointed advisor to the bank's board of directors. Ahmed Meshari has been appointed acting CEO of the bank. The QIB statement said that its board of directors held a meeting yesterday to discuss, among other issues on the agenda, a request received from Al Jaidah to release him from his current duties as CEO of QIB due to personal reasons.

Qatar Islamic Bank said last week following a report from Zawya Dow Jones that it would kick off a global investor roadshow on Sept. 24 in Asia ahead of a planned sukuk. The roadshow began in Asia and then moved to the Middle East and Europe this week.
HSBC Bank Middle East, QInvest and Credit Suisse are advising QIB on the deal.
The chunky order book signals strong demand among investors, who are scrambling to get exposure to the oil-rich Gulf. Qatar, the wealthy gas-rich Arab state, has seen a string of bond issuances this year, including a $3.5 billion offering from the property arm of its sovereign wealth fund earlier in the summer, as the country tries to deepen its capital markets and create a yield curve.

Qatar Islamic Bank's subsidiary European Finance House (EFH) has recently rebranded as QIB UK in order to reinforce its positioning within QIB's expanding global network.The change was instituted at the beginning of August and acts to unify the brand in order to keep consistency across local and international markets. The primary motivation behind the rebranding is to further bring EFH under the umbrella of QIB's well established identity as one of the regions foremost Islamic banking institutions, and the world's 4th largest Islamic bank in terms of assets. The change in name acts to enhance QIB UK's profile within the Islamic finance industry. The institution's aim is to achieve outstanding outcomes and solutions for its diverse clientele by implementing the expertise of its international team in combination with proven strategies and techniques.