QIIB gets 4 awards from REDmoney

October 20, 2020

The prestigious international institution REDmoney has awarded QIIB four prizes as part of the IFN Awards 2020 in recognition of the bank’s achievements, particularly the issuance of permanent instruments within the first tranche of the capital with a value of $300 million in November last year.
When awarding the four prizes, which included the ‘Deal of the Year’ and the ‘Capital Deal of the Year’ prizes for 2019, REDmoney considered many grounds like the success achieved in issuing instruments, and the high confidence and credibility QIIB was able to build with investors who have been attracted by the bank’s various instruments.
REDmoney emphasised that QIIB’s high rating and its strong financial position qualify it to continue achieving its goals, reaching the target growth rates and expanding in the domestic and foreign market alike.
Commenting on the awards, QIIB Chief Executive Officer Abdulbasit Ahmad Al Shaibei said, “We thank the prestigious REDmoney institution for awarding four prizes to the QIIB at the IFN Awards 2020, after the bank’s success in issuing permanent instruments within the first tranche of the capital with a value of $300 million in November last year. We consider these awards as an indicator of the great success the Qatari economy is achieving. Any prize we win or achieve is primarily due to the inherent strength of the Qatari economy, in the light of the advantages it provides to various economic sectors, especially the banking sector.”
He said, “The selection of our instruments issuance for awarding the ‘Deal of the Year’ prize and the other prizes we won is a deserved achievement. This issuance has been highly popular with investors from around the world, with the issue getting oversubscribed by nearly nine times, exceeding $2.6 billion and involving as many as 122 institutions from some 22 countries.”
Shaibei said, “It is the first time that a Qatari bank allotted this type of issuance within the first tranche of the capital at an international level, as all the issuances, either instruments or bonds, were financing tools and their maturity period do not exceed five years.”
He said, “Our issuance of instruments proves again that this important investment tool represents a popular and reliable financing solution, as well as an occasion for the QIIB to strengthen its presence in the international financial instruments market.”
“The bank will continue to implement its strategic and phased plans that focus on strengthening the bank financial position and forging more partnerships at various local, regional and international levels,” he said.
QIIB succeeded in issuing permanent instruments within the first tranche of the capital with a value of $300 million in November 2019.

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