Latest news with #QIB
Qatar Tribune
9 hours ago
- Business
- Qatar Tribune
QIB partners with PayLater to introduce Shari'a-compliant BNPL solutions in Qatar
Tribune News Network Doha Qatar Islamic Bank (QIB), Qatar's leading digital bank, has signed a Business Partnership with PayLater, a Qatari fintech company specialising in Buy Now, Pay Later (BNPL) solutions. This partnership introduces, for the first time, a shari'a-compliant BNPL solution by a Qatari fintech, which enables customers to make purchases through flexible installment plans, promoting financial inclusion and supporting the growth of Qatar's digital economy. The partnership brings together QIB's trusted banking expertise and PayLater's fintech innovation to offer seamless, shari'a-compliant financial solutions tailored to the evolving needs of consumers and merchants in Qatar. Aligned with QIB's sustainability agenda and the Qatar Central Bank's (QCB) strategy to encourage collaboration between banks and fintech companies, the collaboration reinforces QIB's commitment to expanding digital financial services while supporting the local fintech ecosystem. Commenting on the partnership,QIB General Manager – Wholesale Banking Group Tarek Fawzi said, 'Our partnership with PayLater represents a strategic milestone in QIB's mission to revolutionize financial services by integrating innovation and accessibility, in line with Qatar Central Bank's strategy to support the collaboration between banks and fintech companies. We are pleased to be at the forefront of Innovation in Islamic banking thru our partnership with PayLater, which represents a strategic milestone for QIB, this is in addition to extending our support to Qatari start-ups specialised in technology in line with Qatar National Vision 2030. By joining PayLater's fintech expertise, we are enhancing our offering with tailored, customer-centric solutions that empower individuals and create new growth opportunities for merchants, reinforcing our role as a leading digital bank.' PayLater Co-founder and Managing Partner Mohammed Al Delaimi said, 'We are delighted to start this valued partnership with Qatar Islamic Bank to introduce BNPL solutions in Qatar. These solutions are transforming how consumers manage their finances while offering merchants new avenues to grow their business. Our partnership with QIB highlights the potential of collaborations between finTechs and banks to create customer-centric solutions that redefine the financial landscape inQatar.'
Zawya
19 hours ago
- Business
- Zawya
QIB and PayLater introduce Shari'a-compliant BNPL solutions in Qatar
Doha, Qatar – Qatar Islamic Bank (QIB), Qatar's leading digital bank, has signed a Business Partnership with PayLater, a Qatari fintech company specializing in Buy Now, Pay Later (BNPL) solutions. This partnership introduces, for the first time, a shari'a-compliant BNPL solution by a Qatari fintech, which enables customers to make purchases through flexible installment plans, promoting financial inclusion and supporting the growth of Qatar's digital economy. The partnership brings together QIB's trusted banking expertise and PayLater's fintech innovation to offer seamless, shari'a-compliant financial solutions tailored to the evolving needs of consumers and merchants in Qatar. Aligned with QIB's sustainability agenda and the Qatar Central Bank's (QCB) strategy to encourage collaboration between banks and fintech companies, the collaboration reinforces QIB's commitment to expanding digital financial services while supporting the local fintech ecosystem. Commenting on the partnership, Mr. Tarek Fawzi, QIB's General Manager – Wholesale Banking Group, said: 'Our partnership with PayLater represents a strategic milestone in QIB's mission to revolutionize financial services by integrating innovation and accessibility, in line with Qatar Central Bank's strategy to support the collaboration between banks and fintech companies. We are pleased to be at the forefront of Innovation in Islamic banking thru our partnership with PayLater, which represents a strategic milestone for QIB, this is in addition to extending our support to Qatari start-ups specialized in technology in line with Qatar National Vision 2030. By joining PayLater's fintech expertise, we are enhancing our offering with tailored, customer-centric solutions that empower individuals and create new growth opportunities for merchants, reinforcing our role as a leading digital bank.' Mr. Mohammed Al-Delaimi, Co-founder and Managing Partner of PayLater, said: 'We are delighted to start this valued partnership with Qatar Islamic Bank to introduce BNPL solutions in Qatar. These solutions are transforming how consumers manage their finances while offering merchants new avenues to grow their business. Our partnership with QIB highlights the potential of collaborations between finTechs and banks to create customer-centric solutions that redefine the financial landscape in Qatar.' For more information, please visit
Economic Times
a day ago
- Business
- Economic Times
Sri Lotus Developers IPO sees 5% subscription on Day 1 so far. Should You Apply? Check GMP, Review & Key Details
ADVERTISEMENT Sri Lotus Developers IPO Subscription Status Sri Lotus Developers IPO GMP today ADVERTISEMENT Sri Lotus Developers company details ADVERTISEMENT ADVERTISEMENT Should You Subscribe? ADVERTISEMENT The initial public offering (IPO) of Sri Lotus Developers opened for subscription on Wednesday, July 30. As of 10:12 AM, overall subscription stood at 5%, with interest largely driven by retail and non-institutional investors. The IPO will remain open until August 1. In the grey market, shares are quoting at a premium, indicating a potential listing gain of around 29% over the upper price band of Rs 150 per investors subscribed to 7% of the 1.97 crore shares allocated to them, while NIIs—such as high-net-worth individuals—subscribed to 9% of the 84.64 lakh shares reserved for their category. Meanwhile, Qualified Institutional Buyers (QIBs) have not placed any bids yet for their allotted 1.12 crore shares. However, it's worth noting that QIB interest often gathers momentum closer to the final days of the IPO, so a lack of early bids from this segment is fairly to market observers, the IPO is commanding a grey market premium (GMP) of Rs 44 per share. This suggests a potential listing gain of nearly 29% over the IPO's upper price band of Rs 150. While GMPs are unofficial and speculative, they can reflect investor sentiment and expected Lotus Developers and Realty launched its Rs 792 crore IPO today, eyeing investor interest in the luxury real estate segment of Mumbai. The issue, which is entirely a fresh offer of 5.28 crore shares, will close on August 1. The price band has been set at Rs 140-150 per share, with a lot size of 100 from the IPO will be used to partly fund ongoing projects through its subsidiaries—including Amalfi, The Arcadian, and Varun—and for general corporate Lotus Developers operates predominantly in Mumbai's western suburbs, focusing on ultra-luxury and luxury housing through redevelopment and joint development company had a net profit of Rs 228 crore in FY25, more than doubling from Rs 119 crore a year ago, on revenue of Rs 550 crore. Its EBITDA margin rose sharply to 52.6%, indicating strong by a solid pipeline of 16 projects across Juhu, Andheri, Bandra, Prabhadevi, and Ghatkopar, Sri Lotus is betting big on the rising demand for homes in the Rs 2.5 crore-plus company follows an asset-light approach, largely avoiding land acquisition and instead partnering with housing societies—a model that has allowed faster execution and leaner capital Rathi has issued a "Subscribe - Long Term" call, citing a strong execution track record, brand premium, and presence in high-demand micro-markets of Mumbai. It notes that while the valuation appears fully priced at 30.6 times FY25 earnings, the fundamentals support long-term wealth Capital recommends the IPO for listing gains. The brokerage highlights the company's ability to complete projects well before RERA timelines and its premium pricing power, especially in areas like IPO is being managed by Motilal Oswal and Monarch Networth , with shares set to be listed on both NSE and BSE.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Mint
2 days ago
- Business
- Mint
Laxmi India Finance IPO subscribed 0.37x on Day 1; retail shows higher participation
The initial public offering (IPO) of Laxmi India Finance received a muted response on its first day of bidding (July 29), with investors placing bids for 42.40 lakh shares against a total offer of 1.13 crore shares, resulting in an overall subscription of 0.37 times by the end of Day 1, according to exchange data. The retail investors' portion was subscribed 0.61 times, while the non-institutional investors' (NII) portion was booked 0.19 times. The Qualified Institutional Buyers' (QIB) portion saw a subscription of just 0.10 times. Laxmi India Finance aims to raise ₹ 254.26 crore through the IPO, comprising a fresh issue of 1.05 crore shares aggregating to ₹ 165.17 crore and an offer for sale of 0.56 crore shares worth ₹ 89.09 crore. The IPO lot size is fixed at 94 shares, requiring a minimum investment of ₹ 14,852 for retail investors. The issue price has been set in the range of ₹ 150–158 per share. The allotment for the IPO is expected to be finalized on Friday, August 1, 2025, with shares scheduled to list on both NSE and BSE on Tuesday, August 5. PL Capital Markets Private Limited is the book-running lead manager, while MUFG Intime India Private Limited (Link Intime) is the registrar for the issue. The company plans to utilize the proceeds to augment its capital base and meet future lending requirements. As of today, the grey market premium (GMP) for the Laxmi India Finance IPO stands at ₹ 0 per share, indicating that the shares are expected to list at par with the issue price. The GMP reflects the anticipated difference between an IPO's issue price and its expected listing price in the unofficial market. However, it is only a preliminary indicator and should not be the sole basis for investment decisions. The company is a non-deposit taking non-banking financial company focused on serving the financial needs of underserved customers in India's lending market. As on March 31, 2025, its operational network spans across 158 branches in rural, semi-urban and urban areas in the states of Rajasthan, Gujarat, Madhya Pradesh, Chhattisgarh and Uttar Pradesh. Laxmi Finance has the widest reach in Rajasthan in terms of being the company with highest number of branches amongst its peers for the period ending FY25, the company said in its RHP report, citing CARE Report. Its product portfolio includes MSME loans, vehicle loans, construction loans and other lending products catering to the diverse financial needs of its customers. The company's MSME lending fuels economic growth and promotes financial inclusion by supporting small businesses and entrepreneurs, with over 80% of its MSME loans qualifying as Priority Sector Lending under RBI guidelines. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Qatar Tribune
4 days ago
- Business
- Qatar Tribune
QIB expands mobile app features to enhance customer experience
Tribune News Network Doha Qatar Islamic Bank (QIB), Qatar's leading digital bank, has introduced a series of new features to its award-winning Mobile App and the QIB Lite App, further strengthening its digital offering and enhancing access to essential financial services for customers. QIB has enhanced its Instant Credit Card feature by extending it to all eligible customers without requiring a salary transfer to QIB. The feature enables non-salaried customers to instantly apply for and receive a Credit Card via the QIB Mobile App, backed by a lien—a temporary hold—on a deposit or account balance. This update simplifies access to credit and offers customers greater flexibility and control over their finances. Additionally, QIB has expanded its Instant Cash Pickup service to include Pakistan through direct API integration with Habib Bank Limited (HBL) via both QIB Mobile App and QIB Lite App. The Cash Pickup service enables QIB customers to send money securely to beneficiaries in Pakistan, who can collect the cash instantly from any participating HBL branch. The new corridor builds on the existing Cash Pickup network covering Jordan, Egypt, and the Philippines, offering valuable remittance options to Qatar's expatriate communities. Among the newly introduced services, the Salary Advance feature is now available for eligible low-income earners (WPS) through the QIB Mobile App as well. Customers can instantly access up to 80 percent of their net salary in just a few steps. The service offers a one-time settlement in the following month and a fixed monthly profit rate of only 1percent, making it a simple, fast, and affordable solution for customers needing short-term liquidity. The service is now available on both QIB Mobile App and QIB Lite App. Commenting on the launch, QIB General Manager – Personal Banking Group D Anand said, 'These new features reflect our ongoing efforts to build a more inclusive and responsive digital banking ecosystem. By listening to our customers and understanding their needs, we are continuously delivering solutions that improve financial access, convenience, and control. Whether it is helping customers bridge short-term expenses, access credit instantly, or support families abroad, QIB remains committed to customer-centric innovation. The continuous releases of new features is a testament to our promise to always expect more from QIB.' With over 320 features and an enhanced user interface, the QIB Mobile App has become the preferred banking channel for QIB customers. The app offers customers full control over their accounts, cards, financing, and transactions, and enables them to fulfil all their banking requirements remotely. Customers can also open new accounts, apply for financing or credit cards, and book deposits instantly and securely. Available on the App Store, Google Play, and Huawei AppGallery, customers can download the QIB Mobile App and self-register using their QID and PIN.
