As one of the founders of QFB, I look at the Bank’s achievements with pride. Since its inception as the first independent Shari’ah compliant bank we have managed to originate sound investments and turn financial uncertainties into lucrative opportunities.
Our journey has not been without any challenges. I reflect upon the time of launching the Bank in 2009 when the world was suffering from the worst financial meltdown. People were wondering how we are opening a bank when other financial institutions were closing. But we believed this was the time of opportunities. To succeed where others have failed. Luckily for us, the region from which we operate weathered the crisis well due to governments’ ambitious growth plans and policies for diversifying economies. Furthermore, the flexibility of our business approach allowed us to take advantage of undervalued investment opportunities and turn them into profitable operations.
Two years later, the Arab Spring hit the region. The political uprisings created an atmosphere of uncertainty for business in the MENA region in as the general economic outlook was negative. Again, due to our prudent investment strategy, we continued to maintain our financial stability as we reaped the profits of our sound investments.
During this challenging period, the bank’s business model continued to evolve. In 2010 we received the QFC approval to upgrade our license into category 5 which allowed us to venture into commercial banking. To better reflect this evolution we changed our name to Qatar First Bank.
Our ultimate aim has been always to establish a private bank that would offer world class Shari’ah compliant wealth management strategies to affluent individuals in Qatar and the region. A bank that would capitalize on the growing demand for Islamic banking and be a trusted financial partner to the young generation of wealthy entrepreneurs in the preservation and growth of their wealth.
This private bank is now a reality. By operating from Qatar, we are able to tap into a wide range of investment opportunities from the region and beyond and provide our clients with bespoke private banking services that are customized to their evolving individual and business needs.
The foundation of our business is a commitment to excellence in everything we do. We are committed to provide our clients with the highest level of service for managing their private wealth effectively by adopting international best practices and operating ethically and transparently.
We are confident that our strong financial position, diversified shareholder base and our competent team of professionals will enable us to capitalize on the growing demand for Shari’ah compliant exclusive wealth management services in the region and contribute to our vision of becoming a leading private bank.
Abdulla bin Fahad bin Ghorab Al Marri