QFB’s Corporate & Institutional Banking division was recognized for customer service excellence and product innovation

  • Bank’s won the prestigious ‘Best Shari’ah Compliant Commercial Bank – Qatar’ title at the 11th Islamic Business & Finance Awards
  • QFB’s corporate and institutional banking range of products and liability solutions include Wakala, Murabaha, Ijara, Istisna’a, etc.
  • The team has been able to grow QFB’s local asset and liability book, while successfully established footprints across the GCC
  • As per the financial results of the third quarter, QFB:
  • has grown its liability book by more than 10% to QAR 3.37 billion, reflecting investors’ confidence
  • has grown its financing portfolio by around 31% to QAR 1.45 billion

Culminating its seventh-year consecutive growth and the excellence it has continuously demonstrated while serving its clients, Qatar First Bank (Public) “QFB”, a leading Shari’ah compliant bank based in Qatar and listed on the Qatar Stock Exchange (QSE), has been recognized as the ‘Best Shari’ah Compliant Commercial Bank’ in Qatar, at the 11th Islamic Business & Finance Awards – the most prestigious and the longest established Islamic financial services Awards program in the world.

QFB claimed the prestigious title following the closure of the voting period, during which the Bank garnered the most votes from the world’s senior banking professionals and finance industry practitioners. A secure online system collects votes from members of the 68,000 community of CpiFinancial.net, ensuring that the winners crowned on the night are deserving of the title and beyond reproach.

QFB’s Head of Whole Sales Banking Sector – Commercial Banking, Mr. Hussein Hamam, collected the award on behalf of the Bank at the Islamic Business & Finance Awards Gala Dinner held at the Emirates Towers Hotel in Dubai.

Commenting on the distinctive achievement, Mr. Sulaiman Yousif Al-Salhi, Chief Business Officer of QFB, said:

“With our growing range of innovative Shari’ah compliant products and services to the corporate and private banking market, as well as the bank’s continued growth and success in its role as a trusted financial advisor to clients, this highly regarded award is a testament to the Bank’s status as a leading player in Qatar’s Islamic financial industry and its capacity to take on potential market challenges amid the current economic conditions in the region. We are truly honored to be named the ‘Best Shari’ah Compliant Commercial Bank’ in the country at the leading annual event for the global Islamic financial community, and we will continue to work on improving our customers experience, streamlining our operations, and exploring more opportunities that contribute positively to our shareholders value and demonstrate genuine growth and profitability.”

QFB’s  Corporate & Institutional Banking team has been able to maintain a growing portfolio offering clients a wide range of financing products and liability solutions including Wakala, Murabaha, Ijara, Istisna’a and others. The Bank’s client base encompasses government, private and public entities belonging to a diverse set of economic sectors such as trading, manufacturing, healthcare, private equity, retail, real estate and contracting, etc. The team has not only been able to grow the Bank’s local asset and liability book, but has also successfully established footprints in the regional GCC market via lucrative syndicate deals. During this year, the bank has grown its liability book by more than 10% to QAR 3.37 billion, according to Q3 2016 financials, reflecting investors’ confidence in the bank. Despite the volatile market conditions the Bank has also grown its financing portfolio by around 31% to QAR 1.45 billion recorded in the third quarter 2016 announcement. To further strengthen QFB’s position and expand the client base, the Bank’s team is heavily involved in product development and service improvement. Additionally, the team successfully added a new revenue stream by placing investment products with their corporate clients; demonstrating the synergies between departments – a hallmark to QFB’s strategy.

The Islamic Business & Finance Awards are a showcase of industry excellence for the Islamic Banking and Finance sectors in the world. The great and the good of the industry are brought together at the Islamic Business & Finance Awards, with more than 300 senior figures from the world’s leading financial institutions gathering to witness the winners in the widely contested categories. With a circulation of 12,697 copies distributed to all C-level executives in Islamic financial institutions around the world, the magazine has continued to be the key communication platform for the financial community.

The Islamic Business & Finance Awards’ accolade is the latest of several recognitions QFB has received in 2016, including being exclusively named 2016’s ‘Best Up-and-Coming Islamic Financial Institution’ in Global Finance magazine’s ninth annual awards, as well as winning the ‘Best Shari’ah Alternative Investment Platform’ title by ‘Wealth & Finance’ in this year’s ‘Alternative Investment Awards’. Last but not least, The Asset, Asia’s leading financial publication for issuers and investors, honoured QFB the awards of ‘Bank of the Year, Qatar’ and ‘Best Private Bank, Qatar’ at the The Asset Triple A Islamic Finance Awards 2016.

The prestigious awards celebrate the Bank’s milestone achievements throughout the year, such as its successful listing on the Qatar Stock Exchange (QSE) in April, introducing its one-of-a-kind open architecture Private Banking platform that allowed QFB to opt for a client centric approach, partnering with the some of the world’s leading institutions to broaden its offerings to clients and fuel its growth strategy, as well as launching the series of innovative Shari’ah compliant structured investment opportunities that were met with great enthusiasm by private, corporate and institutional clients.

Qatar First Bank: shares jump to 10% limit after MSCI index entry

The Peninsula/ Reuters

Qatar’s index dropped 0.7 percent to finish at 9,679.92 yesterday as Vodafone Qatar, the most heavily traded stock, slid 4.1 percent to QR9.74 after MSCI downgraded the stock to its small cap index. Qatar First Bank surged to its 10 percent daily limit in heavy trade after MSCI added it to its small cap index.

The stock posted its biggest volume since the day after it listed in April. Stock markets in Saudi Arabia and Egypt continued pulling back yesterday after big rallies earlier this month, while some individual stocks in the United Arab Emirates moved sharply after MSCI adjusted its indexes.

The Saudi index, which had jumped 22 percent between mid-October and Sunday before profit-taking began on Monday, dropped 2.1 percent to 6,493 points yesterday in heavy trade, pulling back from technical resistance on the July peak of 6,703 points.

However, the index ended well off the day’s low of 6,346 points. Among major losers, National Commercial Bank, the biggest lender, dropped 4.5 percent.

A Saudi fund manager said the market had been supported by local and government funds and when these stopped buying yesterday, profit-taking pressure quickly pushed stocks down.

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QFB joins Turkey’s 9th Investment Advisory Council Meeting

Qatar First Bank L.L.C. (Public) “QFB”, a leading Shari’ah compliant bank based in Qatar and listed on the Qatar Stock Exchange (QSE), attended the invitation-only 9thInvestment Advisory Council Meeting, which took place in Istanbul, Turkey.

The meeting; attended by QFB’s CEO, Ziad Makkawi, was chaired by Turkey’s Prime Minister, H.E. Binali Yildirim, and attended by top Turkish government officials, representatives from 20 global companies as well as the major Business Associations who shared their expertise and discussed ways of strengthening the competitiveness of Turkey’s investment climate.

Commenting on QFB participation, Mr. Abdulla Bin Fahad Bin Ghorab AlMarri, Chairman of QFB, said:

“The IAC meetings are setting the roadmap to strengthening the competitiveness of Turkey’s investment climate. Allowing the participation of leading intuitions from across the region, reflects a country’s bold behavior towards achieving a quantum leap in its successful journey on both economic and developmental levels. IAC meetings will promote an exchange of foreign investments from Qatar and the region to Turkey.”

Mr. AlMarri added: “QFB is proud to be invited to this meeting, and we are confident that our business platform and competences in the Shari’ah compliant finance arena is a key to accelerate the execution of building a prosperous economy.”

Speaking at the meeting, Mr. Makkawi said:

“Leaders of Turkey have continually shown their commitment and dedication to maintain and develop a healthy business climate, supported by a clear communication strategy and engagement with the international investor community.”

Makkawi added: “As a long standing and committed investor in Turkey we feel encouraged by these type of initiatives that help to align perceptions with reality in terms of the Turkish economic and political environment. QFB has invested in Turkish companies in both the Health Care and Retail sectors, the companies we have invested in past are generating some USD 300 MM in Revenues and have created over 5000 jobs. We believe that QFB can serve as a bridge between Turkey, Qatar and the broader GCC in terms of two way investment and business flows.”

Giving the message that his government is ready to ease the way for new investments Turkey, H.E. Prime Minister Yıldırım stressed that the aim for next year is to be a year of investment flows as he addressed at the IAC meeting.

H.E., The Prime Minister Yıldırım added that Turkey will review what it can do in order to create a more available investment environment and turn the country into an attraction center for global investors along with the suggestions and demands we will hear. H.E. Prime Minister Yildirim also thanked QFB for its ongoing support and commitment and encouraged further engagement and business relations.

The 9th Investment Advisory Council meeting aimed at improving Turkey’s investment environment and attracting foreign investors to the country.

Deputy Prime Ministers Mehmet Şimşek and Nurettin Canikli, Economy Minister Nihat Zeybekci, Finance Minister Naci Ağbal, Energy and Natural Resources Minister Berat Albayrak, Development Minister Lütfi Elvan also attended the meeting.

The council members from 14 countries have attended the 9th Investment Advisory Council meeting. They operate in 10 different sectors with a total turnover of $666 billion and employ a total of 1.5 million employees.

Senior managers from the world’s leading groups, including the World Bank Group’s Vice President Cyril Muller, Alstom’s CEO Henri Poupart-Lafarge, CEO of Alzahid Group Holding AbdulRahman Al Zahid, APM Terminals’ Senior Vice President Teimen Meester, Bank of China’s Senior Vice President Qiang Liu, Bombardier’s President Laurent Troger, CEO of British Petroleum Tufan Erginbilgiç, CEO of Burgan Bank Eduardo Eguren, Gemalto’s Senior Vice President Tommi Nordberg, Khazanah Nasional Berhad’s Executive Director Dato’ Noorazman Abd Aziz, Corporate Vice President of Microsoft Corporation Ali Faramawy, CEO of Mitsui & Co.Europe Atsushi Kume, CEO of Mumtalakat Mahmood Hashim Al Kooheji, Chairman of Nesma Saleh Al-Turki, CEO of Qatar First Bank Ziad Makkawi, Renault’s Senior Vice Chairman Denis Le Vot, CEO of Sberbank Herman Gref, Managing Director of Sojitz Europe Shigeya Kusano, Vice President of United Technologies Corporation David Hess, CEO of ZTE Corporation Zhang Renjun and Vodafone’s Chief Executive of Vodafone Africa, Middle East and Asia-Pacific region Serpil Timuray attended the meeting.

As a leading listed entity on the Qatar Stock Exchange, QFB can serve as a trusted advisor and gateway for investors interested to tap into innovative, shari’ah-compliant, financial solutions and investment opportunities in both Qatar and Turkey. QFB has the competences and capabilities to offer high-net-worth individuals and corporates an attractive range financial products and services focused on private equity and real estate, private banking and wealth management, as well as corporate and institutional banking.

Mr. Makkawi concluded:

“Financial Services is one of the main areas of bilateral co-operation between Qatar and Turkey, and we believe it has a great potential for further growth and development. We at QFB are confident that we have all the ingredients to fulfill the growing needs of Qatar-Turkey economic aspirations. QFB is in a perfect position to participate and facilitate deals, projects and investments between the two countries and play a vital role in growing and strengthening the current business relationship.”