DOHA: Qatar Islamic Bank (QIB), Qatar’s leading Islamic Bank, has been recognised by the Islamic Finance News for being the ‘Best Islamic Bank in Qatar’ and for the ‘Best Deal of the Year - Regulatory Capital’ in relation to its QR2bn Sukuk deal.
The Annual Islamic Finance News Best Banks Poll recognizes the best providers of Islamic financial services across a series of markets and sectors as voted directly by the readers of Islamic Finance News. Islamic finance issuers, investors, non-banking financial intermediaries and government bodies were invited to participate by casting their votes. With a record-breaking 30,000 votes placed in 2015, the Best Banks Poll reflects the views of a large, dedicated audience which voted QIB as the Best Islamic Bank in Qatar.
Additionally, the “Best Deal of the Year - Regulatory Capital” recognition was in response to QIB’s June 2015 Sukuk issuance. QIB issued the first Basel III & IFSB Compliant additional Tier 1 perpetual Sukuk in Qatar.
The perpetual Sukuk was issued under the “Mudaraba” structure with agreed expected profit for the first six years. While the issuance does not have a maturity date it can be called back by the Bank at the end of 6 years and has been recognised as Additional Tier 1 capital. The deal is the first in Qatar to meet these standards, and enhanced the Bank’s capital adequacy ratios and supported business growth.
Founded in 1982 as the country’s first Islamic financial institution, QIB is the largest Islamic bank in Qatar, with a 41 percent share of the Islamic sector and 11 percent overall.
The Peninsula
DOHA: Qatar Islamic Bank (QIB), Qatar’s leading Islamic Bank, has been recognised by the Islamic Finance News for being the ‘Best Islamic Bank in Qatar’ and for the ‘Best Deal of the Year - Regulatory Capital’ in relation to its QR2bn Sukuk deal.
The Annual Islamic Finance News Best Banks Poll recognizes the best providers of Islamic financial services across a series of markets and sectors as voted directly by the readers of Islamic Finance News. Islamic finance issuers, investors, non-banking financial intermediaries and government bodies were invited to participate by casting their votes. With a record-breaking 30,000 votes placed in 2015, the Best Banks Poll reflects the views of a large, dedicated audience which voted QIB as the Best Islamic Bank in Qatar.
Additionally, the “Best Deal of the Year - Regulatory Capital” recognition was in response to QIB’s June 2015 Sukuk issuance. QIB issued the first Basel III & IFSB Compliant additional Tier 1 perpetual Sukuk in Qatar.
The perpetual Sukuk was issued under the “Mudaraba” structure with agreed expected profit for the first six years. While the issuance does not have a maturity date it can be called back by the Bank at the end of 6 years and has been recognised as Additional Tier 1 capital. The deal is the first in Qatar to meet these standards, and enhanced the Bank’s capital adequacy ratios and supported business growth.
Founded in 1982 as the country’s first Islamic financial institution, QIB is the largest Islamic bank in Qatar, with a 41 percent share of the Islamic sector and 11 percent overall.
The Peninsula
