IslamicFinance.de

The Board of Directors of Qatar First Bank (QFB) announced the appointment of Ahmad Meshari as Acting Chief Executive Officer of the Bank with immediate effect. Ahmad will replace Emad Mansour who recently resigned from the bank. Ahmad will have responsibility for QFB’s business lines including the wealth management business, principal investments, asset management and corporate finance advisory. He brings with him more than 30 years’ experience in the financial sector gained through different senior management positions in regional banks and key roles on high-profile boards, primarily with Islamic financial institutions. He joins QFB from Qatar Islamic Bank (QIB) where he served as Deputy Chief Executive Officer.

An Islamic financing facility worth $500m was signed between Qatar Telecom (Qtel) and Qatar Islamic Bank (QIB). The bank plays the role of Sole Mandated Lead Arranger and Investment Agent for the deal. The financing is structured as an 18 month Shariah-compliant "Revolving Murabaha". According to Chief Executive Officer of the Qtel Group - Dr Nasser Marafih - the deal will make the relationship between Qtel and QIB stronger. Ahmad Meshari, Acting Chief Executive Officer of QIB, added that the financing facility enables further avenues of collaboration between the two companies.

Two Islamic Finance institutions, QIB and QIIB, have agreed to financing package for the Qatar Gas Transport Company. The joint arrangement is a big step in enhancing co-operation between both financial institutions and shall cover the increasingly growing market demand for Sharia'-compliant financial solutions.

Qatar Islamic Bank (QIBK) aims to increase its workforce by as much as 7 percent this year.
Ahmad Meshari, Acting Chief Executive Officer, stated that there will be no layoffs and further hiring is planned, after another 50 people were hired recently.
Qatar Islamic recently also hired Booze & Co. as a strategic adviser.