Qatar Islamic Bank was the first Islamic financial institution founded in Qatar, established in 1982. As an Islamic bank, QIB is overseen by a Shari’a board that ensures it adheres to Islamic banking principles in all its dealings.
QIB is the largest Shari’a compliant lender in Qatar and has more than 170,000 retail clients and 3,000 corporate clients. There are 32 branches in the country, plus dedicated women-only branches and lounges that serve only high net worth individuals.
QIB Products and Services
Personal banking customers can choose from a range of accounts including savings accounts, current accounts, term deposit accounts and a savings account designed for children. QIB also offers the Misk savings account, which rewards customers with prize draws to win money – customers get one entry in the draw for every QR 10,000 in their balance.
Corporate customers can choose from a product portfolio that includes:
Private banking customers can use specialist, tailored cards designed for those with high net worth. The cards, a debit card and a credit card, include travel insurance, purchase protection, and access to more than 600 airport lounges around the world.
These private customers are assigned a dedicated relationship manager who handles their finances, and provides services including wealth management, investment advisory services, portfolio monitoring, asset allocation and research.
As an Islamic, Shari’a compliant bank, QIB also has dedicated branches and services designed for women. These services are designed to assist women with their everyday banking needs. All relationship managers in the Ladies Banking division are also female.
Tamayuz is QIB’s priority banking service – it offers a telephone and internet banking platform designed for customers who are too busy to bank in-branch. Tamayuz has a range of available accounts and cards tailored to the specific needs of demanding lifestyles.
The bank also offers Takaful, a range of Shari’a compliant insurance products.
Extensive cybersecurity information is freely available for QIB customers to read online. In the UK QIB is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority (FCA) and Prudential Regulation Authority.