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Qatar Islamic Bank (QIB) has signed an agreement with the youth organization INJAZ Qatar to sponsor a three-year financial literacy programme for selected high schools and universities in Qatar. The agreement was signed by Bassel Gamal, QIB Group CEO and Emad Al Khaja, INJAZ Qatar CEO. The new "Personal Finance Program" is a five-week training with interactive sessions tailored specifically for high school students and university freshmen. The programme explores ways to earn money and spend it wisely by budgeting, saving, and investing. Courses include the cautious use of credit cards, and protecting your personal finances. Emad Al Khaja said the course was in line with local cultural requirements, as Islamic banking principles are incorporated into the programme.

Qatar Islamic Bank (QIB) has been recognised by Global Finance as the safest Islamic Bank in Qatar and one of the safest Banks in the Middle East. Also, QIB was recognised as the second safest Bank across the banking sector, and the third safest Islamic Bank in the Middle East. Global Finance evaluates the ratings and total assets size of the banks, which were selected through an evaluation of long-term foreign currency ratings from Moody's, Standard & Poor's and Fitch. QIB's Group CEO Bassel Gamal said he was proud to be active contributor to Qatar's growing financial sector and to the country's National Vision 2030. Total assets of the Bank have increased by 9.2% compared to the first half of 2016, and now stand at QR147bn. Income for the first half of this year is QR3.14bn registering 18.4% compared to QR2.657bn for the first half of 2016.

Qatar Islamic Bank (QIB) has agreed a 1.6 billion Qatari riyal ($439.4 million) funding deal with Al Jaber Engineering (JEC) to finance a large food security facility at the new Hamad Port. The new food security facility is being built on a 530,000 square metre site and contains facilities that can be used for storing, processing and manufacturing of various foods. The complex will house rice silos, oil storage tanks and associated infrastructure. The funding deal was signed by QIB's CEO, Bassel Gamal, and JEC CEO Osama Hadid. Gamal said the bank was proud to finance JEC’s food security facilities project which is of strategic importance to the country. Hadid added that JEC would be responsible for both the design and construction of the new food security facility. Hamad Port is a $7.4 billion project which has been built to the south of the country's capital, Doha.

The country’s leading Sharia-compliant lender, Qatar Islamic Bank now controls more than 43.5% of the Islamic banking market share in Qatar and 11.5% of the overall market. The quality of its customer service, portfolio of products and services, solid financial performance and measured approach to growth have also contributed to it recently adding the ‘Best Bank in Qatar’ honor from Euromoney to its list of awards. Group CEO Bassel Gamal explains QIB’s winning formula, its dedicated support for SMEs, and the opportunities Islamic finance holds for clients and investors.
What are the main opportunities in Islamic finance in Qatar?
Islamic finance has recorded many significant achievements over the last few years as it continued to strengthen its capabilities and grow by providing the products and services, as well as the capacity, to structure and finance major infrastructure projects in Qatar, in line with the country’s National Vision 2030.

Qatar Islamic Bank (QIB) has been affirmed by international credit rating agency, Capital Intelligence (CI), with a Financial Strength Rating (FSR) of 'A'. This reflects the Bank's Islamic banking franchise, evidenced by substantial growth in financings and customer deposits, net financial income differential, and the Bank's capitalisation. In view of the Bank's intrinsic financial profile, Qatar's economic growth potential, and ongoing government support for all Qatari banks, the Bank's Long and Short Term Foreign Currency Ratings are affirmed at 'A' and 'A2', respectively, on Stable Outlook. Based on the strength of the Qatari government balance sheet, the Support Rating is affirmed at '2'.

Qatar Islamic Bank is not expecting to issue more Islamic bonds before 2014, according to its Chief Executive Officer Bassel Gamal. The CEO said that there seems to be enough liquidity currently. Last October, it tapped the bond market with a US$750 million five year sukuk bond issue. This is part of the overall sukuk programme of the bank valued at US$1.5 billion. Gamal added that local currency sukuks would be expected to be issued in the coming years. He also said that many countries encourage local issuances of sukuk, such as Saudi Arabia and Malaysia.

Bassel Gamal was appointed as the Chief Executive Officer of Qatar Islamic Bank (QIB). Mr. Gamal is well grounded in banking and finance, and has had experience in several institutions and positions. He will assume his office next month.