QIIBQatar International Islamic Bank
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QIIB will now be the first Islamic Bank in Qatar to launch the service.
Shareholders equity stood at QR6.8 billion in 2017 while capital adequacy under the Basel III ratio was 17.87%, which indicated the strength of QIIB's financial position amid various risks.
The expected ratings are in line with QIIB's Foreign-Currency Issuer Default Ratings (IDR).
The results showed that QIIB achieved a net profit of QAR 666.4 million riyals compared to QAR 656.5 million riyals for the same period in 2015, which indicates a growth of 1.5 per cent.
QIIB has been given an 'A2' rating by Moody's with a stable outlook, and Fitch has accorded it an 'A+' rating with a stable outlook.
Abdulbasit Al Shaibei, CEO of QIIB and Abdul Aziz bin Nasser Al Khalifa, CEO of the QDB signed the Al Dhameen programme portfolio agreement, sponsored by the QDB, enabling further expansion of SMEs financing.
the sukuk certificate holders will (i) effectively be exposed to QIIB's
The high-level delegation accompanying Sheikh Khalid, including QIIB chief executive officer, Abdulbasit al-Shaibei, also met senior Moroccan officials, members of the royal family and leaders of the business community.
Last year, QIIB had already moved to raise its stake in IBB to 81 per cent.
The two banks have now reached agreement on a recommended unconditional cash offer for the shares in the company that are not already held by QIIB.
Qatar International Islamic Bank (DOH:QIIK), or QIIB, owner of 80.95% in Islamic Bank of Britain (LON:IBB), has agreed to buy out the bank via an unconditional cash offer at GBP0.01 (USD0.02/EUR0.01) apiece, the two parties said on Wednesday.