Commercial Bank gets ISO mark for continuity management system
Tribune News Network
Doha
Commercial Bank, a leader in innovative digital financial solutions in Qatar, has been awarded the prestigious ISO 22301 certification for Business Continuity Management Systems from BSI (British Standards Institution).
This marks a significant milestone in the Bank's ongoing commitment to operational excellence. This international certification affirms the Bank's ability to maintain business continuity and protect customers and operations in the face of unexpected disruptions, such as natural disasters, cyber threats, or other crises.
This achievement is a testament to Commercial Bank's strategic investment in preparedness, crisis response, and risk management. It reflects a deeply embedded culture of resilience that prioritizes stability, reliability, and customer confidence at every level within the Bank's structure.
By securing this standard, Commercial Bank reinforces its ability to deliver uninterrupted services, safeguard stakeholder interests, and uphold its role as a pioneer of Qatar's financial infrastructure.
Commenting on the certification, Joseph Abraham, Group Chief Executive Officer at Commercial Bank, said: 'Receiving the ISO 22301 certification is an important milestone for Commercial Bank as it demonstrates our focus on resilience and business excellence. Being agile and prepared for any situation is key to our corporate strategy, ensuring the Bank is well prepared for any eventuality. This certification confirms our readiness and ability to maintain service for our customers in the face of business disruption events.
Commenting on the certification, Matt Page, Senior Vice President, Assurance Services, EMEA, BSI, said: 'Commercial Bank's commitment to business continuity helps ensure it can continue its operations throughout a disruption, minimizing the impact on employees, customers and society. Congratulations to the team on the certification of the international standard for Business Continuity Management (ISO 22301).
This achievement helps demonstrate the organization's ability to protect against, reduce the likelihood of, and ensure it can recover from any disruptive incidents.'
This milestone underscores the Bank's forward-looking approach and its alignment with global best practices, while also setting the stage for future achievements. Commercial Bank continues to pursue industry-leading standards, maintaining its position as a trusted partner and innovator within Qatar's financial landscape.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Qatar Tribune
5 days ago
- Qatar Tribune
QIB named Qatar's best Islamic bank and best digital bank for SMEs by Euromoney
Tribune News Network Doha Qatar Islamic Bank (QIB), 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 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.
Qatar Tribune
6 days ago
- Qatar Tribune
QDB opens applications for SME Excellence 2025
QNA Doha Qatar Development Bank (QDB) has opened applications for the fourth edition of 'SME Excellence 2025'. The initiative aims to recognise the top 50 SMEs that have demonstrated strong performance and achieved significant growth over the past three years. These SMEs have succeeded in building sustainable business models that positively contribute to the national economy, aligning with the bank's strategy to empower the local business ecosystem and foster a resilient, productive, and competitive private sector. QDB has established a set of eligibility criteria for companies wishing to apply. These include being a profitable commercial entity, qualifying as an SME under Qatar's official definition excluding home-based businesses, operating in value-adding economic activities, being headquartered in Qatar, maintaining continuous operations for at least three years, and holding a valid commercial registration. The bank has also defined a set of evaluation criteria. Applicants will undergo a rigorous assessment of their financial and operational performance, the sustainability of their business model, and their growth potential. These evaluations will be based on audited financial statements for the years 2022, 2023, and 2024. Companies that participated in previous editions of 'SME Excellence' may reapply, provided they meet all current criteria and submit the required documentation for another opportunity to be recognised for their achievements. The deadline for applications is July 15, 2025. Applications must be completed, and all relevant documents uploaded via the Bank's website. This will be followed by an initial screening process based on eligibility criteria. Shortlisted applicants will then be invited to meetings, during which further evaluation will take place, followed by site visits to the companies. QDB will host an awards ceremony for the 50 selected companies based on the established criteria. 'SME Excellence' is one of QDB's strategic initiatives, aimed at identifying high-potential companies and supporting them in strengthening their competitive position by facilitating access to both local and international markets.
Qatar Tribune
6 days ago
- Qatar Tribune
Fitch affirms Commercial Bank's rating at ‘A' with stable outlook
Tribune News Network Doha In a significant vote of confidence, Fitch Ratings has affirmed Commercial Bank's long-term issuer default rating (IDR) at 'A' with a stable outlook, reinforcing the bank's position as one of Qatar's most resilient and well-managed financial institutions. The agency has also affirmed the bank's viability rating (VR) at 'bb+'. The rating reflects the potential support Commercial Bank could receive from the Qatari authorities, as evidenced by its government support rating of 'a'. The stable outlook aligns with that of the Qatari sovereign rating (AA/stable), further affirming the strength of the country's financial system. According to Fitch, Commercial Bank's rating is underpinned by a stable domestic operating environment, a strong and established domestic franchise, and steadily improving profitability. Commenting on the reaffirmation, Commercial Bank Group Chief Executive Officer Joseph Abraham said, 'We are pleased with the reaffirmation of our rating and stable outlook, which reflect our strong execution of our strategic focus, robust franchise, and resilience.' With Fitch's endorsement in place, Commercial Bank continues to enjoy strong credit ratings across major global rating agencies. The bank is rated A2 by Moody's and A- by Standard & Poor's, both carrying a stable outlook—highlighting consistent recognition of the bank's financial strength and strategic direction.
