Company Insights Qatar Islamic Bank Banking & Finance Qatar Islamic Bank Overview Qatar Islamic Bank (QIB) was the first Islamic financial institution in Qatar, and opened its first branch for customers in 1983. It is supervised by a Sharia board, and is the country’s largest Sharia-compliant lender. QIB holds almost a 50 percent share of the Islamic banking sector and approximately 10 percent of the total domestic banking sector in Qatar, making it the country’s largest private bank and the second largest bank overall. It listed on the Qatari stock exchange in 1998. It operates more than 20 branches and 170 ATMs in Qatar. QIB Group has a majority stake in Qatari Sharia-compliant financial services company QInvest, an investment banking subsidiary established in 2007, and its affiliates Damaan Islamic Insurance Company (Beema) and Al Jazeera Finance. In 2008 QIB established UK subsidiary QIB-UK to cover the financial needs of Qatari individuals and companies in the UK. The bank has a presence in Lebanon through Arab Finance House – 37 percent owned by QIB, and established in Beirut in 2003 – and one branch in Sudan. In 2005 QIB established the Asian Finance Bank, and in 2018 sold its full 60 percent stake to Malaysian Building Society. The Qatar Investment Authority is the single largest shareholder of QIB. The bank’s total assets in 2023 were valued at $54.29 billion. Qatar Islamic Bank News Banking & Finance Qatar Islamic Bank sukuk three times oversubscribed Qatar Islamic Bank, the Gulf state’s largest Islamic lender, has raised $750 million through a new sukuk (Islamic bond) issue. The five-year unsecured sukuk was priced at 100 basis points over US Treasuries at 4.485 percent, the lowest rate achieved by a lender in the GCC, the lender said in a statement. The sukuk order […] September 11, 2024 Analysis Markets Sustained sell-off makes Qatari stocks more attractive Qatari stocks are among the Gulf’s most attractively priced, according to core metrics, after a sustained slump on Doha’s bourse. The decline – the Qatari index is down about 27 percent from its late 2021 peak – comes after a momentous rally that propelled the index to a seven-year high when investors bet on a […] July 1, 2024 Opinion Banking & Finance Strong results likely from Gulf banks – but there’s more to success than profit Expect healthy returns for 2023, yet look beyond the financials for 2024 January 26, 2024 Business of Sport Qatari sheikh withdraws bid to buy Manchester United Qatar’s Sheikh Jassim bin Hamad Al Thani has withdrawn his interest in buying UK football club Manchester United, according to media reports. Sheikh Jassim, the son of a former prime minister of Qatar, had bid £5 billion ($6.06 billion) for the club, but further talks this week have broken down, BBC Sport reported. Reuters sources said that […] October 15, 2023 Analysis Banking & Finance Arab banks tighten lending for Gulf-UK property investors Middle East banks are reviewing lending criteria for GCC clients in the UK, responding to high interest rates and a trend towards investors diversifying portfolios to capture better yields. For several years – and especially since interest rates shot up in the past 12 months – yields in sectors traditionally popular with Gulf investors, such […] April 26, 2023 Business of Sport Qatari sheikh files second bid in tussle for Manchester United Sheikh Jassim bin Hamad Al Thani has submitted an improved bid to buy Manchester United FC. The Qatari businessman made his first offer for the Premier League club in February, when his spokesperson said the bid was completely debt free. Qatari bid for Manchester United ‘acid test of post-Brexit Britain’ Middle East continues to dominate […] March 27, 2023 Analysis Business of Sport Qatari bid for Manchester United ‘acid test of post-Brexit Britain’ Qatari investors’ bid to buy Manchester United FC is “an acid test of whether post-Brexit Britain truly is open for global business”, according to a leading sports academic. Sheikh Jassim bin Hamad bin Jaber Al Thani, the son of a former prime minister of Qatar, confirmed on Friday that his consortium had made an offer […] February 20, 2023 Business of Sport Qatari consortium confirms bid for Manchester United Sheikh Jassim bin Hamad bin Jaber Al Thani, the son of a former prime minister of Qatar, has confirmed that his consortium has made a bid to buy Manchester United. “The bid plans to return the club to its former glories,” the consortium said in a statement. “The bid will be completely debt free via […] February 19, 2023 Posts navigation
Banking & Finance Qatar Islamic Bank sukuk three times oversubscribed Qatar Islamic Bank, the Gulf state’s largest Islamic lender, has raised $750 million through a new sukuk (Islamic bond) issue. The five-year unsecured sukuk was priced at 100 basis points over US Treasuries at 4.485 percent, the lowest rate achieved by a lender in the GCC, the lender said in a statement. The sukuk order […] September 11, 2024
Analysis Markets Sustained sell-off makes Qatari stocks more attractive Qatari stocks are among the Gulf’s most attractively priced, according to core metrics, after a sustained slump on Doha’s bourse. The decline – the Qatari index is down about 27 percent from its late 2021 peak – comes after a momentous rally that propelled the index to a seven-year high when investors bet on a […] July 1, 2024
Opinion Banking & Finance Strong results likely from Gulf banks – but there’s more to success than profit Expect healthy returns for 2023, yet look beyond the financials for 2024 January 26, 2024
Business of Sport Qatari sheikh withdraws bid to buy Manchester United Qatar’s Sheikh Jassim bin Hamad Al Thani has withdrawn his interest in buying UK football club Manchester United, according to media reports. Sheikh Jassim, the son of a former prime minister of Qatar, had bid £5 billion ($6.06 billion) for the club, but further talks this week have broken down, BBC Sport reported. Reuters sources said that […] October 15, 2023
Analysis Banking & Finance Arab banks tighten lending for Gulf-UK property investors Middle East banks are reviewing lending criteria for GCC clients in the UK, responding to high interest rates and a trend towards investors diversifying portfolios to capture better yields. For several years – and especially since interest rates shot up in the past 12 months – yields in sectors traditionally popular with Gulf investors, such […] April 26, 2023
Business of Sport Qatari sheikh files second bid in tussle for Manchester United Sheikh Jassim bin Hamad Al Thani has submitted an improved bid to buy Manchester United FC. The Qatari businessman made his first offer for the Premier League club in February, when his spokesperson said the bid was completely debt free. Qatari bid for Manchester United ‘acid test of post-Brexit Britain’ Middle East continues to dominate […] March 27, 2023
Analysis Business of Sport Qatari bid for Manchester United ‘acid test of post-Brexit Britain’ Qatari investors’ bid to buy Manchester United FC is “an acid test of whether post-Brexit Britain truly is open for global business”, according to a leading sports academic. Sheikh Jassim bin Hamad bin Jaber Al Thani, the son of a former prime minister of Qatar, confirmed on Friday that his consortium had made an offer […] February 20, 2023
Business of Sport Qatari consortium confirms bid for Manchester United Sheikh Jassim bin Hamad bin Jaber Al Thani, the son of a former prime minister of Qatar, has confirmed that his consortium has made a bid to buy Manchester United. “The bid plans to return the club to its former glories,” the consortium said in a statement. “The bid will be completely debt free via […] February 19, 2023
