Doha
New York-based Global Finance Magazine has named Qatar Islamic Bank (QIB) as one of the top 10 safest banks in the Middle East, for the first time this year, 3rd Safest Islamic Bank in GCC and 2nd Safest Bank in Qatar as part of Global Finance’s annual rankings of the World’s Safest Banks.
The leading financial magazine, an international reference in the world of finance, has also ranked QIB as the Safest Islamic Bank in Qatar for the fourth consecutive year.
Global Finance’s annual rankings of the World’s Safest Banks have been a recognized and trusted standard of financial counterparty for safety for more than 25 years. Banks were selected through an evaluation of their long-term foreign currency ratings from Moody’s, Standard & Poor’s, and Fitch and the quality of their balance sheet.
The recently announced rankings reflect QIB’s continuous improvements over the past few years, and its steadiness in light of the Covid-19 pandemic. QIB’s rankings, on both the regional and local levels, are a testament of QIB’s ability to continue building on its growth strategy, its prudent financing policies, and disciplined approach to risk management.
Commenting on the new rankings, Bassel Gamal, QIB’s Group CEO said: ‘We are pleased to be ranked amongst top 10 safest banks in the Middle East, for the first time this year, and to continue being one of the safest banks in the GCC and Qatar.
These new ratings are the result of our investments in implementing a sustainable business strategy, upgrading our risk management frameworks, and working towards a fully secure digitization of our products and services.
‘2020 has been undoubtedly a challenging year for the industry worldwide, but thanks to the commitment of our team to innovation, and with the support of the Board of Directors, QIB has managed to continue providing the most trusted banking options to all its customers at all times.—MENAFN
