Qatar Islamic Bank

It conducts its domestic business through 31 branches spread throughout the country, in addition to private centers for ladies and dedicated lounges for affluent customers, augmented by more than 175 multi-function ATM installations.

In February 2018 QIB sold its full 60% stake in the Asian Finance Bank (AFB) to Malaysian Building Society Bhd (MBSB).

[2] In March 2019 QIB successfully priced a US$750 million 5-year Sukuk at par with a profit rate of 3.982% (equivalent to a credit spread of 150bps over US$ Mid-Swaps).

The Sukuk was met with strong investor demand, as evidenced by the large orderbook, which closed at US$3.1 billion, representing an oversubscription rate of 4.1 times.

In terms of geography, 46% of the Sukuk was allocated to Asian investors, followed by Middle Eastern accounts (23%), Europe (21%), and US/Other (10%).

More than 140 investors from 28 countries spanning Europe, Asia, the USA, and the Middle East participated in the Sukuk.

Customer Deposits at the Bank now stand at QAR 111.6 billion, registering a strong growth of 11% compared to December 2018.