QIIB bank strengthen its strong position

Qatari’s QIIB bank strengthen its strong position in the Qatar’s banking system

The Qatari bank increase more than ten points its billing only in the first half of this year.

The Qatari’s bank IQQB, the leading lender in Qatar, has got a net profit of 110.7 million euros in the first half of 2016, a 1.1% more than in the same last-year period while its total incomes during this year’s first half grow up to 204 million euros. This figure represents a 10.3% more than in the same last year’s period.

In such a way, this important bank’s total assets are growing up to 9.8% worth in more than 10.572 million euros. Those dizzying figures which this bank, run by Sheikh Khalid bin Thani bin Abdullah Al Thani, can be proud of are taking place despite the oil price’s lowering and recent market’s volatilities.

This slump cannot affect Qatari’s banking system’s health, which is “maintaining its momentum”, in the words of QIIB’s director, Sheikh Khalid, as in general the whole Qatari’s economy. An increasing which QIIB is shareholder and witness: “those results are reflecting this bank’s skill to bring effectively about in the rising of a strong Qatari’s economy”.

Two are the cornerstones of this development, on one side the QIIB’s strong positioning in the Qatari’s inner market, considered as a priority, with an increasing in the funding of numerous projects both medium or small ones and in the given boosting of bank’s clients policy lines such as electronic banking and mobile banking services; on the other, the spreading through international markets.

Thus, QIIB recently announced the signing of a cooperation agreement with the Moroccan bank CIH in order to establish a new bank entity in that Alawite country.

QIIB bank is well-known by acting in accordance with the so-called Islamic Banking’s tenets. This kind of finance is characterised by respecting the Sharia or Islamic law’s postulates. In this regard, for example, those banks are rejecting the usury and interest rates imposition because they are thought against the Koranic law while in the field of banking operations both client and lender assume together all risks unfailingly, from a position of equality.

If you have any legal doubt about your investments, savings or assets, please do not hesitate to contact us for a complimentary review at clerk@delcantochambers.com

Del Canto Chambers’ Newsroom

 

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