World Economic magazine names QIIB the best Islamic digital bank in Qatar

June 29, 2021

Qatar International Islamic Bank (QIIB) has been named the “Best Islamic Digital Bank in Qatar 2021” by the American World Economic magazine, in recognition of the bank’s outperformance and leap it has made in providing digital services through its various alternative channels.
Explaining the reasons for awarding this prestigious award to QIIB, World Economic magazine said, “This unique award is given to institutions that successfully implemented digital technology, in terms of both direct customer services and back offices, while continuing to seek further development to create new banking tools.”
The magazine noted, “QIIB’s commitment to sustainability, the strength of its banking services through the digital transformation process, its compliance with the Islamic Shariah standards and its outstanding response to the urgent circumstances caused by the spread of Covid-19 impressed the evaluators who decided that the bank deserves this award.”
For his part, QIIB Chief Executive Officer Dr Abdulbasit Ahmed Al Shaibei said, “Recognising the efforts made by QIIB or any other leading Qatari institution is recognising and acknowledging the strength of the Qatari economy and its ability to keep pace with the current requirements of this digital era and the rapid technological developments in all fields.”
He said, “The exceptional success story achieved by the Qatari economy inspired and prompted us to double efforts to live up to our ambitions. We are constantly working to achieve our interim and strategic goals, and play our role as dictated by the latest developments in the local and international market, while benefiting from the scientific and technological achievements in the best possible way.”
QIIB CEO affirmed, “The bank was able to transform challenges into opportunities in light of the latest circumstances caused by the Corona pandemic. QIIB has been able to shoulder its responsibilities vis-à-vis customers and shareholders and made a great leap in digital transformation in a record time. What normally would have taken years, we were able to achieve in months.”
He noted, “A work cell was established and an exceptional achievement plan was elaborated during the last period, which helped us provide most of the bank’s services through digital channels. We were pioneers in the provision of some services, as QIIB was the first bank in Qatar, for example, to launch a visual phone banking service that offers a wide range of banking services to customers.
“QIIB’s customers can also avail of personal financing via mobile banking without the need to visit the bank. We hope that within a short period of time, all the services and products we offer will be available through our alternate channels in a manner that enhances operational efficiency and meets customer’s needs and aspirations.
“QIIB will continue its journey of innovation and will benefit from the most important scientific and technological achievements in the banking sector in a way that enhances its operational efficiency and establishes its position as one of the leading banks in the State of Qatar.”
QIIB was established in 1990 as the second Islamic bank in the State of Qatar and is currently the third largest Islamic bank in Qatar Stock Exchange, in terms of assets and market value. The Bank began operating in 1991.
It provides integrated banking services to its customers through a network of branches all across Qatar and an advanced technological infrastructure and alternative channels that took the banking services to a new level. The bank also has diversified regional and international partnerships.


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