Latest news with #QatarIslamicBank
Sharjah 24
2 days ago
- Business
- Sharjah 24
Abdullah bin Salem honors Sharjah Excellence Award 2024
During the ceremony, His Highness honored the winners from different categories, which included local businesses, organizations from the Gulf region, and individuals who have made significant contributions to the economy. His Highness also recognized the strategic partners, sponsors, judges, and the team behind the award for their hard work and dedication in making the event a success. This year, 17 businesses and entrepreneurs received awards for their outstanding achievements. In the category for the Sharjah Gulf Excellence Award, the winners included notable companies like Saudi Electricity Company, Agility Global, Qatar Islamic Bank, and others. The Sharjah Gulf Localization Award was given to Fair Value from Saudi Arabia. For the Sharjah Small and Medium Enterprises Award, both Montessori Children's Garden Nursery and Gracia Group were recognized. The Sharjah Entrepreneurship Award was presented to Dr. Sunny Kurian and Hamad Ali Sulaiman Al Shamsi, while Hamid Hassan Al Mazmi won the award specifically for individuals with disabilities. In the Sharjah Social Responsibility Award category, the winners included the University of Sharjah, the Sharjah Housing Department, and Sharjah Airport. Additionally, Emirates Refining Company was honored with the award for the best facility that follows security standards. The ceremony kicked off with the UAE national anthem and some verses from the Holy Quran. Abdullah Sultan Al Owais, who is the Chairman of the Sharjah Chamber of Commerce and Industry, gave a speech. He emphasized that these awards are part of the vision of His Highness Sheikh Dr Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah. His Highness is committed to supporting initiatives that help build a sustainable economy and encourage a culture of quality and creativity in the workplace. Al Owais shared his heartfelt thanks to His Highness Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, and His Highness Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah. He appreciated their generous support for the Sharjah Excellence Award, which has helped it become a major force in promoting outstanding business practices and quality management. He highlighted that this year's award had a remarkable turnout, with over 132 entries—a 34% increase from last year. This shows that more organizations are recognizing the importance of quality and innovation in their work. At the ends of his speech, Al Owais congratulated the winners of this year's award and expressed his gratitude to the strategic partners who have helped ensure its ongoing success. He emphasized that the Sharjah Excellence Award continues to aid all partners and organizations, both locally and internationally, in adopting the best practices for business excellence. His aim is to foster an environment that enhances investment opportunities for businesses in the UAE and the Gulf region, ultimately improving their overall performance.
Zawya
3 days ago
- Business
- Zawya
QIB launches the QIB Junior App, Qatar's first figital banking experience for Kids and Teens
Doha, Qatar: Qatar Islamic Bank (QIB), Qatar's leading digital bank, has announced the official launch of the QIB Junior App, the country's first digital banking and financial education platform for kids and teens aged 8 to 17 years old. As a first-to-market solution, QIB Junior is a modern Banking App designed specifically for kids and teens with tools that empower young users to manage their finances confidently, while parents guide their journey. Developed with a mobile and tablets-first mindset, QIB Junior introduces young users to smart money management in a secure and intuitive way. The solution brings together a prepaid Visa card which can be used for online payments, to tap and pay at physical stores, and can be add to digital wallets i.e. Apple Wallet, Google Wallet or Samsung Wallet. The QIB Junior App provides a dedicated 'savings pot' which allows juniors to move money between the card and the savings pot, encouraging the habit of saving. The App offers a suite of engaging features allowing junior to earn rewards every time they complete tasks set by parents as well as to enjoy exclusive deals and discounts tailored to their age group. In addition, QIB will be offering a special gift voucher to the early adopters who onboard on the Junior App. Parents play a central role in enabling and managing their child's banking journey. Through the main QIB Mobile App, parents can seamlessly sign up their children for the QIB Junior App and issue a prepaid card. With full control through the QIB Mobile App, parents can set allowances, load the card, assign tasks, monitor spending, manage access, activate or deactivate the Junior App and the prepaid card and locate the child's device. This approach ensures that children gain early financial independence under safe and guided supervision of their parent. QIB Junior is the perfect tool for parents to set allowances and help their children build smart money habits in a safe, supervised environment. For Juniors, the QIB Junior App offers savings and spending capabilities while building their financial confidence. Young users benefit from tools that encourage saving, reward good habits, and offer access to exclusive deals and discounts, laying a strong foundation for financial responsibility and confidence. The solution is designed to grow with its users, automatically transitioning to QIB's Bedaya student account at age 18, ensuring continuity in their financial journey. Commenting on this pioneering initiative, Mr. D. Anand, QIB's General Manager – Personal Banking Group said: 'The launch of QIB Junior is a major milestone, reflecting QIB's leadership in digital innovation and future-ready banking. It introduces a secure, practical solution tailored to the evolving needs of families in Qatar. By empowering young users today, we are investing in a financially confident and responsible generation tomorrow.' The initiative aligns with Qatar National Vision 2030, reinforcing financial literacy and digital inclusion as cornerstones of sustainable development. It also affirms QIB's role as a digital leader committed to serving all segments of the community with secure and accessible banking solutions. QIB Junior is now available for existing QIB customers. Parents can activate the service through the QIB Mobile App, available on the App Store, Google Play, and Huawei AppGallery.
Zawya
3 days ago
- Business
- Zawya
Qatar Stock Exchange index soars to new heights amid regional tensions
Doha, Qatar: Qatar's Stock Exchange (QCE) closed today June 24, 2025 at 10,531.87 points, marking a significant increase of 199.05 points or 1.93% from the previous session, despite recent regional security tensions. This positive trend persists since yesterday, highlighting the resilient of Qatar's financial market. The index continues to surge positively following yesterday's trend, with the market recording a trading volume of 3,242,185 shares, valued at QR688mn. In this session, the shares of 50 companies rose, while only those of 5 companies decreased. The banking sector emerged as a key driver, with Qatar Islamic Bank gaining 2.80% and Commercial Bank of Qatar rising by 2.08%. Al Rayan Bank rose by 2.17%, while Dukhan Bank rose by 1.89%. However, Ahli Bank saw a slight decline of 0.41%, indicating some variability within the sector. The insurance sector also performed well, with Alkhaleej Takaful gaining 2.31%, Qatar Insurance gaining 2.13%, and Doha Insurance Group increasing by 2.21%. Conversely, General Insurance experienced a drop of 2.28%, marking it as the biggest loser in this session. The industrial sector showed steady growth, with Industries Qatar up by 1.07%, Qatar National Cement Company rising by 1.71%, and Qatar Industrial Manufacturing Company increasing by 0.08%. The telecommunications sector also saw gains, with Ooredoo rising by 3.64%, and Vodafone Qatar (VFQS) increasing by 1.29%. The services sector recorded notable increases, with Qatar Gas Transport Company (Nakilat) up by 3.60%, Salam International rising by 3.71%, and United Development Company (UDCD) gaining 1.20%. The real estate sector on the other hand showed promising results, with Mazaya (MRDS) up by 3.85%, Ezdan Holding (ERES) increasing by 5.17%, and Inma Holding (IHGS) gaining 4.68%. Meeza QSTP (MEZA) and Al Mahhar (MHAR) also rose by 1.14% and 3.06%, respectively. Top gainers in today's trade are Widam (WDAM) at 7.52%, Qatar German Co. Med (QGMD) at 6.62%, Lesha Bank (QFC) at 5.85%, Ezdan Holding (ERES) at 5.17%, Inma (IHGS) at 4.68%, Mannai Corp (MCCS) at 4.62%, and National Leasing (NLCS) at 4.17%. Moderate gains were recorded also for Al Mahhar (MHAR) at 3.91%, Salam International (SIIS) at 3.71%, Qatar Oman (QOIS) at 3.69%, Ooredoo (ORDS) at 3.64%, Nakilat (QGTS) at 3.60%, and Faleh (FALH) at 3.06%. On the other hand, the biggest losers for this session are General Insurance (QGRI) closing at -2.28%, Islamic Insurance (QISI) at -0.82%, Al Ahli Bank (ABQK), Al Meera (MERS), both closing at -0.41% respectively, while Cinema (QCFS) closing at -0.04%. Nevertheless, the overall investor confidence in the market remains strong, with the index's upward trajectory reflecting optimism about Qatar's economic stability. The year-to-date decline of 0.37% suggests some volatility, but the current session's performance indicates robust activity. QSE's current performance reinforces its status as a stable investment hub amidst geopolitical uncertainties. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
18-06-2025
- Business
- Zawya
QIB named Qatar's Best Islamic Bank & Best Digital Bank for SMEs by Euromoney
Doha, Qatar – Qatar Islamic Bank (QIB), Qatar's leading digital bank, has been named Qatar's Best Islamic Bank and Qatar's Best Digital Bank for SMEs at the Euromoney Awards for Excellence 2025, reaffirming its market leadership and dedication to delivering innovative, Shari'a compliant digital financial solutions. This recognition from Euromoney, one of the world's most respected financial publications, reflects QIB's exceptional performance, strong market position, and strategic focus on digital transformation within the framework of Islamic banking principles. QIB's sustained investment in technology and innovation, combined with its strong financial performance, has solidified its leader position. For the first quarter ended 31 March 2025, QIB reported a net profit of QAR 985 million, marking a 3.1% increase over the same period last year. The Bank's Total assets reached QAR 212 billion, while the Bank maintained a cost-to-income ratio of 16.6%, the best in the Qatari banking sector. QIB also continued to demonstrate prudent risk management and controls, with a non-performing financing assets ratio of 1.76% which is considered one of the lowest ratios in the banking sector, reflecting the quality of the bank's financing portfolio and effective risk management framework. The financing-to-deposit ratio reached 91.4%, reflecting the bank's strong liquidity position. The award for Best Digital Bank for SMEs highlights QIB's customer centric approach and commitment to enabling Qatar's small and medium-sized enterprises. Through a suite of tailored, Shari'a-compliant digital solutions—including digital onboarding, Corporate Internet Banking, the QIB Corporate App, and co-branded credit cards with Ooredoo—QIB has simplified business banking. The Bank also offers a comprehensive range of payment services such as POS terminals, Payment Gateway, and QIB SoftPOS App, empowering SMEs to manage finances, improve liquidity, and scale sustainably. On this occasion Mr. Bassel Gamal, QIB Group CEO, said: 'We are pleased to receive this recognition from Euromoney, which reflect our unwavering commitment to delivering innovative, Shari'a-compliant financial solutions and supporting Qatar's economic development. These accolades reaffirm QIB's leadership in Islamic banking and underscore the success of our digital transformation strategy. Our focus on empowering SMEs through tailored digital services is a key pillar in fostering sustainable growth and contributing to the country's diversification efforts.' The Euromoney Awards for Excellence were the first of their kind in the financial publishing industry. It remains one of the most prestigious and respected awards in global banking. The awards programme seeks to showcase financial institutions that deliver world-class services to their clients and which are successfully able to adapt to changing market conditions. For more details, please visit
Fintech News ME
06-06-2025
- Business
- Fintech News ME
Qatar Islamic Bank Partners with Visa to Boost Cross-Border B2B Payments
Qatar Islamic Bank (QIB) has partnered with Visa to enhance cross-border business-to-business (B2B) transactions. The collaboration involves the integration of the Visa B2B Connect platform, which will enable corporate clients to transfer funds from Qatar to 120 countries in a secure and streamlined manner. The platform is designed to support businesses in conducting international transactions more efficiently, aiming to improve the reliability and security of cross-border payments. QIB's adoption of Visa B2B Connect aligns with its broader strategy to strengthen international payment corridors and provide clients with cost-effective and consistent transfer services. Tarek Fawzi, General Manager, Wholesale Banking Group at QIB, said: 'By leveraging cutting-edge technology and digital advancements, we're able to process account-to-account transfers promptly, helping businesses stay competitive and contributing to the broader economic landscape.' QIB is the first Islamic bank in Qatar to adopt the Visa B2B Connect platform, adding to its existing international money transfer services and expanding its digital payment capabilities. Shashank Singh, Visa's Vice President and General Manager for Qatar and Kuwait, said: 'Visa B2B Connect provides seamless, secure and efficient global money movement solutions for financial institutions and their corporate clients. The solution also supports the Qatar government's efforts to drive digital innovation in the financial and business sector.' International money transfers often involve complexities, but this new network aims to improve transparency and predictability. These features may support better financial planning and strategic decision-making for businesses operating across borders.
