Author: qfbadmin

For the second consecutive year, َQFB has announced its associate sponsorship of the Euromoney Qatar Conference 2013

For the second consecutive year, Qatar First Bank, the first independent Shari’ah compliant bank authorized by the QFC Regulatory Authority (QFCRA), has announced its associate sponsorship of the Euromoney Qatar Conference 2013 , that will be held in Doha at the Ritz-Carlton on 10-11 December 2013, under the theme ‘Global Finance: Re-Engineered’.

Addressing the growing role of conventional and Islamic finance, capital and developing debt markets and the global economic outlook, the conference will be held under the patronage of H.E. Abdullah bin Nasser bin Khalifa Al-Thani, Prime Minister, State of Qatar and co-sponsored by the Qatar Central Bank.  Building on its last year’s success, the conference will showcase the successful development of Qatar’s regulatory framework and financial sector, which in return supports the broader economic goals of the country.

Ahmed Meshari, Acting CEO, QFB commented, “We are proud sponsors of the Euromoney Qatar Conference.  Such conferences provide the right platform for financial industry practitioners to exchange insights and discuss the growing role of conventional and Islamic banking in maintaining a stable financial industry. We look forward to joining other industry experts in redefining Qatar’s financial landscape.”

QFB joins other leading financial institutions in Qatar at the conference that is set to witness a strong presence of international delegates. In 2012, the event brought together over 600 people from 30 countries

Qatar First Bank has announced the Gold sponsorship of the Global Islamic Economic Summit

Qatar First Bank, the first independent Shari’ah compliant bank authorized by the QFC Regulatory Authority (QFCRA), has announced the Gold sponsorship of the Global Islamic Economic Summit to be held at Madinat Jumeirah, Dubai, UAE on 25-26 November 2013.

Attracting more than 1600 delegates, the conference is held under the patronage and the attendance of Sheikh Mohamed Bin Rashed Al Maktoum UAE Vice President, Prime Minister and Ruler of Dubai and organised by Thomson Reuters and the Dubai Chamber of Commerce & Industry.  The two-day event is poised to be the region’s largest event aimed at promoting the Islamic economy and examining the constraints facing its development and growth.

Ahmed Meshari, Acting CEO, QFB commented, “We are proud sponsors of the Global Islamic Economic Summit. The Islamic finance industry continues to grow substantially with many major financial cities competing to become the hub of Islamic finance.  As a leading Shari’ah compliant financial institution, we are looking forward to joining other global Islamic financial experts, policy makers and stakeholders of the US$8 trillion Islamic economy in addressing the challenges facing this vibrant financial system.”

Islamic Finance witnessed considerable growth since the financial crisis of 2008 with Islamic finance assets reaching US$ 1.32 trillion at the end of 2012.   In spite of this growth, which is 50% more than the conventional banking, there is a great potential for further development specifically in terms of products and regulatory framework.

Qatar First Bank is the only bank from Qatar joining regional banks like Abu Dhabi Islamic Bank, Dubai Islamic Bank and Emirates NBD in sponsoring the event.  The summit will bring together experts from all facets of the Islamic Economy and will address themes as the role of the Islamic economy in the evolving global economic landscape, future strategies for its adoption and the takaful industry.

QFB announced the appointment of Sulaiman Yousif Al-Salhi as Chief Business Officer.

Qatar First Bank (QFB), the first independent Shari’ah compliant bank authorized by the QFC Regulatory Authority (QFCRA), announced the appointment of Sulaiman Yousif Al-Salhi as Chief Business Officer.

Sulaiman brings over 24 years of financial experience in private banking, investment banking, corporate lending and Islamic finance. As Chief Business Officer at QFB, Sulaiman will be responsible for overseeing all commercial banking activities including business development, client operations, and building strategic partnerships.

Commenting on the new appointment, Ahmad Meshari, Acting CEO of QFB, “We are pleased to welcome Sulaiman to the QFB team. We are confident that Sulaiman’s strong expertise in the financial sector will make a positive addition to the QFB team and will ensure that we further strengthen our business as we continue to grow across our diverse markets.”

Before joining QFB, Sulaiman served as Managing Director and Senior Executive Officer at Bank Sarasin-Alpen (Qatar) LLC, where he led the private banking team and successfully managed the bank through its critical start-up phase in Qatar. Within three years, the bank successfully established itself in Qatar’s private banking sector.

Sulaiman’s success is built upon two decades of experience at HSBC Middle East, during which he progressed from branch manager to Head of HSBC-Amanah Islamic finance.  During his career at HSBC, Sulaiman was also credited with instituting the Amanah Personal Banking, and Corporate and Investment Banking arms of the business and thus securing substantial amounts in assets under management and revenue.

The Board of Directors of Qatar First Bank (QFB) announced today the appointment of Ahmad Meshari as Acting Chief Executive Officer

The Board of Directors of Qatar First Bank (QFB), the first independent Shari’ah compliant bank authorized by the QFC Regulatory Authority (QFCRA) announced today the appointment of Ahmad Meshari as Acting Chief Executive Officer with immediate effect.  Ahmad will replace Emad Mansour who recently resigned from the Bank.

Ahmad brings with him more than 30 years’ experience in the financial sector gained through different senior management positions in regional banks and key roles on high-profile boards, primarily with Islamic financial institutions. Ahmad Meshari joins QFB from Qatar Islamic Bank (QIB) where he served as Deputy Chief Executive Officer.

Ahmad will have responsibility for QFB’s business lines including the Wealth Management business, Principal Investments, Asset Management and Corporate Finance Advisory. QFB’s current investment stands at  QAR 1.8 billion across various sectors including energy, financial services, industrials, real estate and healthcare in markets as diverse as Middle East and North Africa, Turkey and in the United Kingdom.

Abdulla bin Fahad bin Ghorab Al Marri, Chairman of QFB, commented, “We thank Emad for his efforts and major contributions in growing the Bank and wish him all the success in his future endeavours.  We congratulate Ahmad on his new appointment.  Ahmad brings a depth of experience to this important role and we are excited to have someone with his calibre and talent to lead the team and grow the Bank to new heights”

Ahmad holds a Master’s of Business Administration from the University of Ottawa and a bachelor’s degree in Business Administration from Kuwait University.  He is a Fellow member at the Arab Academy for Banking and Financial Services and has been a holder of the Certified Lender of Business Banking from the Institute of Certified Bankers in the USA since 2003. Ahmad has served as a board member at several of QIB’s subsidiaries including QIB-UK (the investment arm of QIB in United Kingdom), Aqar, Solidarity Group, Q-Invest, Arab Finance House and Al Jazeera Finance.

Formerly known as Qatar First Investment Bank, QFB offers Principal Investments, Corporate Advisory, Asset Management and Wealth Management services. QFB reported strong financial results in 2012, as net income rose by 21 per cent from QAR 94 million (US$25.8 million) in 2011 to QAR 113.2 million (US$ 31.1 million) in 2012

Qatar First Bank (QFB) announced the concluding of its 5th annual Ramadan Blessings Campaign

Qatar First Bank (QFB) announced the concluding of its 5th annual Ramadan Blessings Campaign, during which the bank hosted a series of activities for various organizations with the aim of promoting solidarity and brotherhood with different segments of the society through the Holy Month.

The Ramadan Blessings Campaign started with a special iftar for the Qatar Foundation for Elderly People Care where QFB employees exchanged conversation with the elderly over iftar, then distributed gifts to them.

QFB then organized a visit to the Qatar Autism and Special Needs Center where a group of QFB employees toured the center to gain a better understanding of the services offered, and distributed gifts to autistic children.

Not forgetting the orphans, an important segment of the society, QFB invited the children of the Qatar Orphan Foundation (Dhreima) to a special iftar on the occasion of the Garangou.  QFB employees and their families engaged with the children of Dhreima in various activities in celebration of the Garangaou.

CEO of QFB commented “As an Islamic institution we place great emphasis on the religion’s guiding principles.  Every year, specifically during the Holy month, we dedicate time to give back to the community and reach out to those less fortunate in our society. We are pleased to have brought together the broader community closer through our annual Ramadan blessings campaign, which aims to reinforce solidarity and brotherhood amongst different segments of society’’

Khaled Kamal the Director of Qatar Orphan Foundation (Dhreima) added, “We thank QFB for their continuous support to Dhreima and for hosting our children for the fifth consecutive year to celebrate the traditional Garangou.  Such initiatives not only put a smile on the children’s faces but also help in creating a bond between the different segments of the community.  This is a clear indication of the Bank’s strong commitment to Shari’ah principles.

Khalid Hussein, the Director of Public Relations and Media, Qatar Foundation for Elderly People Care said, “Ramadan is the month of giving, caring and reaching out to the less fortunate members of society.  By hosting a special iftar for the residents,  QFB has helped the elderly to better integrate with other members of society.  We thank QFB for helping to spread kindness and goodwill.

QFB’s annual Ramadan Blessings Campaign also included the “Dardasha Ramadania’ a one hour weekly session delivered by Sh. Dr. Ali Al Quradaghi, the chairman of the QFB Supervisory Board, where the Bank’s employees had the opportunity to learn more about various topics related to religious practices during Ramadan, such as how to calculate  zakat and the benefits of performing Qiyam prayers.

Apart from these community-engagement activities,  QFB’s Ramadan Blessing’s campaign included  placing an in-kind donation box the QFB premises, allowing all employees in the building to donate clothes, toys and household items which will be given to a Qatar based charity at the end of Ramadan.