Latest news with #BasselGamal
ILoveQatar.net
a day ago
- Business
- ILoveQatar.net
12 Qatari firms named among Forbes Middle East's Top 100 Listed Companies 2025
Forbes Middle East release the list of Top 100 Listed Companies 2025 which featured 12 Qatari firms. The Qatari firms listed included the following: QNB Group (#3) Qatar Islamic Bank (QIB) (#32) Sector: Banks & Financial Services Group CEO: Bassel Gamal Market Value: $13.3 billion Ooredoo Group (#33) Sector: Telecommunications Group CEO: Aziz Aluthman Fakhroo Market Value: $11.3 billion Industries Qatar (IQ) (#37) Sector: Industrials Chairman & Managing Director: Saad Sherida Al-Kaabi Market Value: $20.2 billion Commercial Bank (#47) Sector: Banks & Financial Services Group CEO: Joseph Abraham Market Value: $4.6 billion AlRayan Bank (#50) Sector: Banks & Financial Services Group CEO: Fahad Al Khalifa Market Value: $5.6 billion Dukhan Bank (#62) Sector: Banks & Financial Services Acting Group CEO: Ahmed Hashem Market Value: $5 billion Nakilat (#72) Sector: Logistics CEO: Abdullah Al-Sulaiti Market Value: $7 billion Qatar International Islamic Bank (QIIB) (#76) Sector: Banks & Financial Services CEO: Abdulbasit Al Shaibei Market Value: $4.4 billion Qatar Fuel (WOQOD) (#79) Doha Bank (#87) Ahlibank (#100) Saudi's energy company Saudi Aramco ranked at number 1 of the list. The companies are ranked based on data collected from the Arab stock exchanges and their reported sales, assets, and profits for the financial year of 2024 and market value as of April 25, 2025.
Qatar Tribune
2 days ago
- Business
- 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
5 days ago
- Business
- Qatar Tribune
QIB receives two prestigious awards from The Asian Banker
Tribune News Network Doha Qatar Islamic Bank (QIB), Qatar's leading digital bank, has received two major accolades at The Asian Banker Leadership Achievement Awards 2025. QIB Group CEO Bassel Gamal has received CEO Leadership Achievement for Qatar Award, while QIB has been named Best Managed Bank in Qatar for the period from January 2022 to December 2024. This recognition reflects the strength of QIB's strategy, its consistent performance, and its commitment to building a modern, inclusive, and resilient financial institution. Under the visionary leadership of QIB Group CEO Bassel Gamal, the bank has redefined the banking experience in Qatar and beyond, establishing itself as a global leader in Islamic finance. Since assuming his role in 2013, Gamal has transformed QIB into a pioneering institution, driving innovation, exceptional financial performance, and unmatched customer satisfaction while upholding Shari'a principles at the core of its operations. In 2024, QIB's net profit rose by 7 percent year-on-year to reach QR4,605 million. Total assets increased by 6.1 percent, reaching QR200.8 billion by the end of 2024 — a strong testament to the bank's sustained growth trajectory. QIB's total income grew by 9.4 percent to QR11.7 billion, driven by robust financing and investment activities, while customer deposits rose 3.4 percent to QR125 billion. The bank's cost-to-income ratio of 17 percent remains the lowest among Qatari banks, reflecting strict cost discipline and operational effic iency. Asset quality remains strong, with a non-performing financing assets ratio of 1.86% and a coverage ratio of 95 percent. QIB's financial strength continues to be recognized by international rating agencies. In 2024, Fitch Ratings affirmed QIB's rating at 'A' with a stable outlook, Moody's affirmed the bank's long-term depositratings at 'A1' with a stable outlook, and Capital Intelligence Ratings affirmed the bank's long-term rating at 'AA-' with a stable outlook. Over the last three years, QIB introduced several first-to-market innovations that have simplified banking for customers. Key milestones include real-time digital onboarding for new customers, and instant personal financing through the Mobile App, which is now offering over 300 features. The bank has introduced new innovations beyond banking including the QIB Marketplace providing a diverse range of products and including a section for local SMEs to display and sell products. QIB has also introduced the first Auto Marketplace in Qatar, also within its mobile app, enabling customers to browse, book a test drive, select and finance vehicles online. Furthermore, QIB consistently emphasises its commitment to environmental responsibility through tangible actions. In a recent stride towards sustainability, the bank launched an eco-friendly credit card crafted from recycled materials, in addition to publishing a sustainability report every year. Embracing a comprehensive approach, QIB actively fosters a culture of sustainability within its workforce and board of directors through extensive training programmes. Commenting on the awards, QIB Group CEO Bassel Gamal said, 'We are pleased and honoured to be recognised by The Asian Banker. This recognition reflects the strength of our strategy and the commitment to delivering the best to our customers and shareholders. These awards are a testament to the hard work and dedication of all our employees, the continuous support of our board of directors and our customers' trust. 'Over the past three years, we've focused on digital innovation, operational excellence, and building a more inclusive, sustainable bank. We will continue to support Qatar's economic development and advance our efforts in line with Qatar National Vision 2030.' The Asian Banker Leadership Achievement Awards are held every three years and recognize outstanding leadership by CEOs and boards in the financial industry. This award affirms QIB's continued leadership in shaping the future of Islamic banking in Qatar and across the region.
Zawya
5 days ago
- Business
- Zawya
QIB receives CEO Leadership Achievement for Qatar and Best Managed Bank in Qatar Awards from The Asian Banker
Doha, Qatar – Qatar Islamic Bank (QIB), Qatar's leading digital bank, has received two major accolades at The Asian Banker Leadership Achievement Awards 2025. Mr. Bassel Gamal, QIB Group CEO, has received CEO Leadership Achievement for Qatar Award, while QIB has been named Best Managed Bank in Qatar for the period from January 2022 to December 2024. This recognition reflects the strength of QIB's strategy, its consistent performance, and its commitment to building a modern, inclusive, and resilient financial institution. Under the visionary leadership of Group CEO, Mr. Bassel Gamal, the Bank has redefined the banking experience in Qatar and beyond, establishing itself as a global leader in Islamic finance. Since assuming his role in 2013, Mr. Gamal has transformed QIB into a pioneering institution, driving innovation, exceptional financial performance, and unmatched customer satisfaction while upholding Shari'a principles at the core of its operations. In 2024, QIB's net profit rose by 7% year-on-year to reach QAR 4,605 million. Total assets increased by 6.1%, reaching QAR 200.8 billion by the end of 2024 — a strong testament to the Bank's sustained growth trajectory. QIB's total income grew by 9.4% to QAR 11.7 billion, driven by robust financing and investment activities, while customer deposits rose 3.4% to QAR 125 billion. The Bank's cost-to-income ratio of 17.0% remains the lowest among Qatari banks, reflecting strict cost discipline and operational efficiency. Asset quality remains strong, with a non-performing financing assets ratio of 1.86% and a coverage ratio of 95%. QIB's financial strength continues to be recognized by international rating agencies. In 2024, Fitch Ratings affirmed QIB's rating at 'A' with a stable outlook, Moody's affirmed the Bank's long-term deposit ratings at 'A1' with a stable outlook, and Capital Intelligence Ratings affirmed the Bank's long-term rating at 'AA-' with a stable outlook. Over the last three years, QIB introduced several first-to-market innovations that have simplified banking for customers. Key milestones include real-time digital onboarding for new customers, and instant personal financing through the Mobile App, which is now offering over 300 features. The Bank has introduced new innovations beyond banking including the QIB Marketplace providing a diverse range of products and including a section for local SMEs to display & sell products. QIB has also introduced the first Auto Marketplace in Qatar, also within its mobile app, enabling customers to browse, book a test drive, select and finance vehicles online. Furthermore, QIB consistently emphasizes its commitment to environmental responsibility through tangible actions. In a recent stride towards sustainability, the bank launched an eco-friendly credit card crafted from recycled materials, in addition to publishing a sustainability report every year. Embracing a comprehensive approach, QIB actively fosters a culture of sustainability within its workforce and Board of Directors through extensive training programs. Commenting on the awards, Mr. Bassel Gamal, QIB Group CEO, said: 'We are pleased and honored to be recognized by The Asian Banker. This recognition reflects the strength of our strategy and the commitment to delivering the best to our customers and shareholders. These awards are a testament to the hard work and dedication of all our employees, the continuous support of our Board of Directors and our customers' trust. Over the past three years, we've focused on digital innovation, operational excellence, and building a more inclusive, sustainable bank. We will continue to support Qatar's economic development and advance our efforts in line with Qatar National Vision 2030.' The Asian Banker Leadership Achievement Awards are held every three years and recognize outstanding leadership by CEOs and boards in the financial industry. This award affirms QIB's continued leadership in shaping the future of Islamic banking in Qatar and across the region. For further information, please visit
Qatar Tribune
04-06-2025
- Business
- Qatar Tribune
QIB successfully issues sukuk worth $750 mn
Tribune News Network Doha Qatar Islamic Bank (QIB), rated A1 by Moody's and A by Fitch, successfully issued a $750 million sukuk with a profit rate of 4.803 percent and tenor of 5 years on June 3. The profit rate was equivalent to a credit spread of 80 basis points over the US Treasury Rate, which was well inside QIB's fair value and lower than secondary market spreads of all Qatari banks, reflecting the positive perception of international investors around QIB's credit quality. Moreover, QIB's profit rate was the lowest achieved by a GCC bank for a senior unsecured 5 year issuance in 2025. QIB announced its intention to issue a Sukuk on Monday morning and conducted calls throughout the day with European, Asian and Middle Eastern accounts. Initial investor feedback was encouraging and allowed QIB to open the order book on Tuesday morning. The order book quickly grew to peak at $1.7 billion, representing an oversubscription rate of 2.3 times, one of the highest levels of demand seen for Sukuk issuances. The robust order book enabled QIB to confidently tighten the pricing by 35-40 basis points from Initial Price Thoughts in one iteration to 80 basis points over the US Treasury Rate. Investor diversity was broad and comprised of banks, private banks, fund managers and agencies from all over the world. Acting as joint lead managers and book runners were Abu Dhabi Islamic Bank, Bank ABC, Dubai Islamic Bank, Dukhan Bank, Emirates NBD Capital, HSBC, KFH Capital, Mashreq, QNB Capital, QInvest, SMBC, Standard Chartered Bank and The Islamic Corporation for the Development of the Private Sector. Commenting on the issuance, QIB Group Chief Executive Officer Bassel Gamal said, 'QIB is proud of another successful transaction in the international capital markets, where it has built a reputable name and large investor base from around the globe. The strong demand for our Sukuk underscores the faith investors have in robust economic position of the State of Qatar's and strong financialfundamentals of QIB.'
