In a move towards strengthening economic ties, the Minister of Foreign Affairs of Uzbekistan, Bakhtiyor Saidov, held a crucial meeting with the Chief Executive Officer of Qatar Islamic Bank (QIB), Bassel Gamal, on December 11, Ministry of Foreign Affairs of Uzbekistan reported.
The discussions at the meeting primarily centered around supporting investment projects, facilitating knowledge-sharing initiatives, advancing banking and financial services, and exploring collaborative instruments for joint project financing. The meeting aimed to pave the way for enhanced economic cooperation between Uzbekistan and Qatar, fostering mutual growth and development.
Qatar Islamic Bank: A Pioneer in Islamic Finance
Established in 1982 as Qatar's first Islamic financial institution, Qatar Islamic Bank stands as the largest private bank in the country. Boasting an extensive network of 23 branches and over 170 ATMs, the bank holds an impressive 36% share of the total assets of domestic Sharia-compliant banks. Renowned for its financial stability, QIB has earned a rating of AA- by Capital Intelligence (CI), A1 by Moody’s, and A- by Fitch.
QIB plays a pivotal role in Qatar's financial landscape, commanding a 10% market share in assets, financing, and deposits, making it the second-largest bank in the country. The bank caters to a diverse range of clients, including individuals, government institutions, large corporations, and SMEs, offering innovative Sharia-compliant banking solutions tailored to each segment's unique needs.
In recent years, QIB has spearheaded a comprehensive digital transformation strategy, placing a strong emphasis on customer-centric services. The bank has successfully replaced its core banking system, introduced a cutting-edge omni-channel digital platform for retail and corporate customers, and embarked on a bank-wide digital transformation. This strategic initiative aims to simplify, accelerate, and enhance the overall banking experience for customers.
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