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), along with leading financial authority figures from Qatar, GCC and international banks, has participated at the annual meetings of each of the International Monetary Fund (IMF) and the Institute of International Finance (IIF), held in Washington, United States of America.
Headed by the Bank’s Chief Business Officer, Mr. Sulaiman Yousif Al-Salhi, QFB took part in the meetings of the IMF and the IIF, in addition to several meetings and events organized on the sidelines of the conference, including holding bilateral meetings with banks from different countries for relationship and business developments.
Commenting on attending the conference and representing QFB at the IMF and IIF meetings, Mr. Al-Salhi said: “Since its launch in 2015, QFB’s strategy has focused on the bank’s role as a trusted advisor for investors who wish to tap into lucrative investment opportunities in and outside of Qatar, and benefit from the innovative, Shari’ah-compliant financial solutions that we offer in local, regional and global markets.”
Al-Salhi added: “We are at the beginning of a new era for our bank, reinforced by listing QFB’s shares in the Qatar Stock Exchange in the month of April this year, and have already started reaping the benefits of our ambitious strategy, as each area of the Bank performed well, bringing growth and generating new recurring income. This reaffirms that QFB is on the right path, as it continues to identify and seize new, attractive opportunities, deliver excellence for both private and corporate clients, build a strong brand, and provide shareholders with robust returns.”
At the IMF, QFB had been exclusively named 2016’s ‘Best Up-and-Coming Islamic Financial Institution’ in Global Finance magazine’s ninth annual awards for the World’s Best Islamic Financial Institutions. QFB won the prestigious award after Global Finance had extensive consultations with bankers, corporate finance executives and analysts throughout the world. In selecting the world’s top Islamic Financial Institutions, Global Finance considered a wide range of quantitative factors including growth in assets, profitability, geographic reach, strategic relationships, new business development and product innovations, as well as informed subjective criteria such as reputation, customer satisfaction, and the opinions of analysts and industry experts.
Commenting on the achievement, Mr. Ziad Makkawi, QFB’s Chief Executive Officer, said: “The Shari’ah compliant finance space has made great progress over the past decade and much remains to be done. We at QFB are proud to be making a contribution to this effort and honored to be recognized by the prestigious Global Finance at the IMF and IIF meetings. Our participation in these meetings reflects our current status as a listed entity on the Qatar Stock Exchange.”
Commenting on the award, Al-Salhi said: “We are honored to be named 2016’s ‘Best Up-and-Coming Islamic Financial Institution’ by the renowned, authoritative Global Finance magazine. The prized global award is a translation of QFB’s winning strategy and innovative approach to Islamic Finance.”
The international financial institutions that has garnered Global Finance’s prestigious award include:
|Best Islamic Financial Institution||Samba|
|Best Bank for Islamic IPOs||J.P. Morgan|
|Best Up-and-Coming Islamic Financial Institution||Qatar First Bank|
|Best Islamic Custodian||Deutsche Bank|
|Best Provider of Shari’ah-Compliant Funds||Al Rajhi Capital|
|Best Islamic Financial Institution for SMEs||Abu Dhabi Islamic Bank|
|Best Shari’ah-Compliant Index Provider||MSCI Islamic Index Family|
|Best Islamic Trade Finance Provider||Dubai Islamic Bank|
|Best Islamic Commodities Provider||International Islamic Trade Finance Corporation|
|Best Sukuk Bank||Maybank Islamic|
|Gulf Cooperation Council (GCC)||Kuwait Finance House|
|Non-GCC Middle East/North Africa||Al Baraka Banking Group|
|Asia-Pacific||CIMB Islamic Bank|
|Europe||Al Rayan Bank|
QFB’s delegation, led by Mr. Sulaiman Yousif Al-Salhi and a number of senior members including Mr. Mohammed Deyab Al Sahli, Director of Private Banking & Investor Relations, participated in the reception ceremony in the presence of the Minister of Finance, H.E. Mr. Ali Shareef Al Emadi, Governor of Qatar Central Bank, H.E. Sheikh Abdulla Bin Saoud Al Thani, along with the members of the Board of Directors of a number of Qatari banks and an elite group of political and economic figures, banks, and regional and international development institutions.
It is worth noting that the meetings lasted for three days, which included discussions of key issues and the outlook for the global economy, developments in financial markets and the monetary system, the reduction of poverty in developing countries, and sustainable development as well as risk management techniques.