Latest news with #QIB
Qatar Tribune
19 hours ago
- Business
- Qatar Tribune
QIB successfully issues sukuk worth $750 mn
Tribune News Network Doha Qatar Islamic Bank (QIB), rated A1 by Moody's and A by Fitch, successfully issued a $750 million sukuk with a profit rate of 4.803 percent and tenor of 5 years on June 3. The profit rate was equivalent to a credit spread of 80 basis points over the US Treasury Rate, which was well inside QIB's fair value and lower than secondary market spreads of all Qatari banks, reflecting the positive perception of international investors around QIB's credit quality. Moreover, QIB's profit rate was the lowest achieved by a GCC bank for a senior unsecured 5 year issuance in 2025. QIB announced its intention to issue a Sukuk on Monday morning and conducted calls throughout the day with European, Asian and Middle Eastern accounts. Initial investor feedback was encouraging and allowed QIB to open the order book on Tuesday morning. The order book quickly grew to peak at $1.7 billion, representing an oversubscription rate of 2.3 times, one of the highest levels of demand seen for Sukuk issuances. The robust order book enabled QIB to confidently tighten the pricing by 35-40 basis points from Initial Price Thoughts in one iteration to 80 basis points over the US Treasury Rate. Investor diversity was broad and comprised of banks, private banks, fund managers and agencies from all over the world. Acting as joint lead managers and book runners were Abu Dhabi Islamic Bank, Bank ABC, Dubai Islamic Bank, Dukhan Bank, Emirates NBD Capital, HSBC, KFH Capital, Mashreq, QNB Capital, QInvest, SMBC, Standard Chartered Bank and The Islamic Corporation for the Development of the Private Sector. Commenting on the issuance, QIB Group Chief Executive Officer Bassel Gamal said, 'QIB is proud of another successful transaction in the international capital markets, where it has built a reputable name and large investor base from around the globe. The strong demand for our Sukuk underscores the faith investors have in robust economic position of the State of Qatar's and strong financialfundamentals of QIB.'
Qatar Tribune
2 days ago
- Business
- Qatar Tribune
QIB, Visa tie up to ease B2B payments
Tribune News Network Doha QIB, Qatar's leading digital bank, and Visa, a world leader in digital payments, have partnered to streamline corporate cross-border business-to-business payments to 120 countries worldwide through the adoption of the Visa B2B Connect platform. The Visa B2B Connect platform is a payment network that will allow corporates to send money conveniently and securely from Qatar to multiple markets across the globe through QIB, therefore, facilitating seamless business operations. The announcement of the partnership signifies QIB's continued commitment to collaborate with its partners to facilitate trade across various international payment corridors by giving customers cost-effective, efficient, reliable and secure, money transfer services. Commenting on this, QIB General Manager – Wholesale Banking Group Tarek Fawzi said, 'In today's fast-paced business environment, it's essential for companies to have a banking partner that can ensure swift transactions. Our partnership with Visa reinforces our commitment to providing businesses with efficient cross-border payment solutions. By leveraging cutting-edge technology and digital advancements, we're able to process account-to-account transfers promptly, helping businesses stay competitive and contributing to the broader economic landscape.' QIB will be the first Islamic bank in Qatar adopting Visa B2B Connect and complementing its already existing outbound money transfer solutions and platforms simplifying international money transfer and payment services globally. Also commenting on the partnership, Visa VP and General Manager for Qatar and Kuwait Shashank Singh said, 'Visa B2B Connect provides seamless, secure and efficient global money movement solutions for financial institutions and their corporate clients. The solution also supports the Qatar government's efforts to drive digital innovation in the financial and business sector and so we're excited to partner with QIB in bringing Visa B2B Connect for the benefit of the local market as well as the wider Middle East region.' Although many businesses may find international money transfer complex, the new network promises predictability and transparency to customers, therefore, providing key insights for strategic decision making and partnership will streamline cross-border payments to 120 countries worldwide through the adoption of the Visa B2B Connect platformBusinesses will enjoy efficient, reliable and secure, money transfer servicesAccount-to-account transactions from QIB Corporate accounts to beneficiary banks to be facilitated through the deployment of Visa B2B Connect QIB Corporate and SME customers will gain access to an account-to-account cross-border payments service that operates 24x7 with ability to transactions in over 80+ currencies
Qatar Tribune
2 days ago
- Business
- Qatar Tribune
QIB set to issue five-year USD-denominated sukuk
QNA Doha Qatar Islamic Bank (QIB) has mandated Abu Dhabi Islamic Bank, Bank ABC, Dubai Islamic Bank, Dukhan Bank, Emirates NBD Capital, HSBC, KFH Capital, Mashreq, QNB Capital, QInvest, SMBC, Standard Chartered Bank and The Islamic Corporation for the Development of the Private Sector as Joint Lead Managers and Joint Bookrunners (the 'Joint Lead Managers') to arrange a USD-denominated Regulation S only 5-year benchmark size fixed rate, senior unsecured Sukuk offering issued by QIB Sukuk. Under the Issuer's $5 billion Trust Certificate Issuance Programme, subject to market conditions. The Financial Conduct Authority (FCA) and the International Capital Market Association (ICMA) stabilisation will apply.
Zawya
2 days ago
- Business
- Zawya
QIB and Visa partner to facilitate B2B Cross-Border Payments
Businesses will enjoy efficient, reliable and secure, money transfer services. Account-to-account transactions from QIB Corporate accounts to beneficiary banks to be facilitated through the deployment of Visa B2B Connect. QIB Corporate and SME customers will gain access to an account-to-account cross-border payments service that operates 24x7 with ability to transactions in over 80+ currencies. Qatar, Doha. QIB, Qatar's leading digital bank, and Visa, a world leader in digital payments, have partnered to streamline corporate cross-border business-to-business payments to 120 countries worldwide through the adoption of the Visa B2B Connect platform. The Visa B2B Connect platform is a payment network that will allow corporates to send money conveniently and securely from Qatar to multiple markets across the globe through QIB, therefore, facilitating seamless business operations. The announcement of the partnership signifies QIB's continued commitment to collaborate with its partners to facilitate trade across various international payment corridors by giving customers cost-effective, efficient, reliable and secure, money transfer services. Commenting on this, Mr. Tarek Fawzi, QIB's General Manager – Wholesale Banking Group, said: 'In today's fast-paced business environment, it's essential for companies to have a banking partner that can ensure swift transactions. Our partnership with Visa reinforces our commitment to providing businesses with efficient cross-border payment solutions. By leveraging cutting-edge technology and digital advancements, we're able to process account-to-account transfers promptly, helping businesses stay competitive and contributing to the broader economic landscape.' QIB will be the first Islamic bank in Qatar adopting Visa B2B Connect and complementing its already existing outbound money transfer solutions and platforms simplifying international money transfer and payment services globally. Also commenting on the partnership, Mr. Shashank Singh, Visa's VP and General Manager for Qatar and Kuwait, said 'Visa B2B Connect provides seamless, secure and efficient global money movement solutions for financial institutions and their corporate clients. The solution also supports the Qatar government's efforts to drive digital innovation in the financial and business sector and so we're excited to partner with QIB in bringing Visa B2B Connect for the benefit of the local market as well as the wider Middle East region.' Although many businesses may find international money transfer complex, the new network promises predictability and transparency to customers, therefore, providing key insights for strategic decision making and business planning.
Qatar Tribune
3 days ago
- Business
- Qatar Tribune
QIB named Islamic bank of the year in Middle East by The Banker
Tribune News Network Doha Qatar Islamic Bank has been named Islamic Bank of the Year in the Middle East by The Banker (Financial Times Group) at The Islamic Banking Awards 2025. The recognition reflects QIB's leadership in Islamic finance, its continued investment in innovation, and its focus on delivering secure, Shari'a-compliant financial solutions across the region. The award comes as QIB continues to strengthen its position as one of the most efficient and digitally advanced Islamic banks in the region. In the first quarter of 2025, QIB reported a net profit of QAR 985 million, a 3.1% increase over the same period last year. Total assets grew to QAR 212 billion, while the Bank maintained a cost-to-income ratio of 16.6%, the best in the Qatari banking sector. QIB also continued to demonstrate prudent risk management, with a non-performing financing assets ratio of 1.76% and a financing-to-deposit ratio well within regulatory limits. QIB's financial strength continues to be recognized by international rating agencies. In 2024, Fitch Ratings affirmed QIB's rating at 'A' with a stable outlook, Moody's affirmed the Bank's long-term deposit ratings at 'A1' with a stable outlook, and Capital Intelligence Ratings affirmed the Bank's long-term rating at 'AA-' with a stable outlook. Over the past years, the Bank introduced several first-to-market innovations that have simplified banking for customers. Key milestones include real-time digital onboarding for new customers, and instant personal financing through the QIB Mobile App, which is now offering over 300 features and a refined user experience. The Bank has introduced new innovations beyond banking including the QIB Marketplace providing a diverse range of products and including a section for local SMEs to display & sell products. QIB has also introduced the first Auto Marketplace in Qatar, also within its mobile app, enabling customers to browse, book a test drive, select and finance vehicles online. Bassel Gamal, QIB Group CEO, said: 'We are pleased to be named Islamic Bank of the Year in the Middle East by The Banker. On this occasion, I would like to extend my appreciation to QIB's Board of Directors, the entire QIB team and our customers for their trust and support.'
