Doha
The outlook for Qatar’s banking sector is brighter in 2019 as the country’s economy has overcome all obstacles originating from the unjust blockade and the country has announced a promising budget for the year, Qatar International Islamic Bank (QIIB) CEO Abdulbasit Ahmed al Shaibei said on Sunday.
Talking to Qatar Tribune on the sidelines of an event to mark the opening of a new QIIB branch at Ezdan Mall in Al Wakra, Shaibei said that a 6 percent growth in QIIB’s net profit in 2018 reflected Qatar’s solid economy.
Most of the bank’s profit came from its core business, he said, adding the bank’s strategy to enhance its presence in the local market paid off well.
“The bank’s aim is to consolidate its position in the local market by opening and relocating branches at the right place. QIIB is financing various projects across various sectors, with particular focus on infrastructure, which is a driving force in the growth of the national economy,” he said.
When asked about expansion in the international market, he said the bank’s experience in Morocco would pave the way for other ventures.
“We are trying to gain more experience from our joint venture in Morocco. First, we will see how it works. The bank’s investment decisions are always based on proper feasibility studies, especially in terms of risks, with the aim of increasing returns to shareholders and support the bank’s key indicators,” he said.
Earlier, QIIB Chairman and Managing Director Sheikh Khalid bin Thani bin Abdullah al Thani inaugurated the bank’s branch at Ezdan Mall in Al Wakra.
Sheikh Khalid toured the branch, where he was briefed on the state-of-the-art facilities that complement the comprehensive services being offered by QIIB.
He stressed on the importance of providing best services to customers, meeting their expectations and aspirations for distinguished banking services in line with the good reputation QIIB has earned among various segments of its rapidly growing customer base.
The new branch is located on the ground floor of Ezdan Mall in Wakra.
Commenting on the launch of the branch, Shaibei said, “It is a new milestone that reflects our expansion strategy in the local market. We continue to focus on opening new branches in commercial malls across the nation as a natural response to the urban development and customer needs.”
“The inauguration of QIIB’s branch at Ezdan Mall in Al Wakra adds value to the quality of our nation-wide branch network. Our customers in Al Wakra and the suburbs will be able to avail themselves of any required banking services during the extended business hours even as they shop or receive other services at Ezdan Mall,” Shaibei said.
Shaibei pointed out that QIIB’s nationwide branch network has seen a restructuring over the last few years as part of a development strategy.
“At the same time we are at the forefront of innovation and adaptation of modern technology in delivering banking products and services to our valuable clients. The developments of alternative channels, which are considered as virtual branches, enable our customers to execute the majority of banking transactions without the need to actually visit the bank’s branches,” he said.
In this respect, he said, “QIIB has invested heavily in developing its alternative channels, namely mobile banking, telebanking, online banking, call center and the ATMs network, which are technologically upgraded on a constant basis. We will continue to adopt any development in the banking sector for the purpose of enhancing our competitiveness and serving our customers more efficiently.”

qatar-tribune