DOHA: Qatar Islamic Bank (QIB), Qatar’s leading Shariah-compliant bank, has been named as ‘Contractor Financing Bank of the Year’ at the Qatar Contractors Forum, which was held here last week, said a press statement yesterday.
The event was set up to bring together decision makers who are involved with various major projects in Qatar and to discuss the emerging challenges faced by contractors in the country. This is coming at a time when the country is undertaking massive projects in Qatar’s infrastructure in preparation to host the 2022 World Cup, as well as the undertaking of a major new port project, the completion of the first phase of the new Hamad International Airport and the start of the Qatar Railways project, all of which are likely to cost upwards of $140bn over the next five years.
The statement said that QIB is heavily involved in the provision of Islamic financial solutions for the implementation of contracts for large projects. The recently received award is another testimony of Bank’s commitment to the contracting sector, by dedicating a specialised team to fulfill all contractors’ financial needs. QIB caters for the complete needs of the bank’s major contracting customers engaged in diversified engineering, construction, as well as operations and maintenance contracts. ThePeninsula
