QIB Crowned Most Innovative Bank in the Middle East

Qatar Islamic Bank (QIB) has been recognized as the ‘Most Innovative Bank in the Middle East, ‘Best Product Launch in the Middle East,’ and ‘Best Islamic Bank in Qatar’ for the sixth consecutive year at the EMEA Middle East Banking Awards. The ceremony occurred in Dubai and was attended by QIB senior management, with Constantinos Constantinides, QIB’s Chief Strategy & Digital officer, receiving the awards. These awards reinforce QIB’s position as the leading Islamic bank in Qatar and its commitment to its digital transformation strategy.

Over the past year, QIB has launched innovative solutions for retail and corporate customers, leveraging technology to meet changing market demands and customer needs. These solutions include the first-ever digital credit card in Qatar, a unique digital deposit account encouraging long-term saving habits called “Growing Deposit,” and a digital certificate called “Flexi Certificate of Deposits” that provides customers the flexibility to make partial redemptions with no charges.

QIB’s recent investments in technology, particularly on the digital banking front, have led to retail asset growth and improved efficiency across the bank, driving significant progress in customer experience. The bank continues accelerating its digital transformation program to provide a fully digital banking experience. By expanding its offerings and ensuring retail and corporate customers adopt new solutions, QIB has reduced reliance on traditional banking services, increasing sales and revenue and migrating branch transactions to digital channels.

Bassel Gamal, QIB Group CEO, expressed his pleasure with the recognition QIB has garnered in Qatar and the region, reaffirming the bank’s commitment to innovation and Shariah-compliant banking. He stated that QIB has been driving innovation in the financial market, launching advanced products and services to meet customers’ banking needs and reshaping the banking scene in Qatar and beyond.

The EMEA Finance Middle East Banking Awards highlight the best commercial, investment, and Islamic banks across the Middle East region, as well as brokers and asset managers. The 15th edition announced QIB as the winner of the awards mentioned above, recognizing the bank’s innovative and customer-centric approach.