QIB ranks 3rd in Forbes Middle East’s 30 most valuable companies in Qatar

QIB ranks 3rd in Forbes Middle East’s 30 most valuable companies in Qatar

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Qatar Islamic Bank (QIB), the region’s first Islamic financial institution, ranked third in the Forbes Middle East’s “30 Most Valuable Companies in Qatar”, making it the largest in the private sector, at the Forbes Digital Qatar Symposium and Awards Ceremony 2021.

Forbes Middle East recognized the biggest firms in Qatar based on market capitalization. QIB has a market value of $11.9 billion and a market share of over 40 percent in the country’s Islamic banking sector.

The ranking reflects QIB’s outstanding performance and further underlines the strength and commitment the bank continued to show in the past year. As the largest private sector bank in the country, QIB’s net income increased by 15.8 percent during the first nine months of 2021 to $691.8 million.

In November 2021, QIB introduced new features to its artificial intelligence (AI) Virtual Assistant “Zaki” offering customers and non-customers more convenience when interacting with the bank. In the same month, QIB also announced the launch of a video banking service through its mobile app.

Bassel Gamal Group CEO – QIB

“We are pleased to be recognized as one of the most valuable companies in the country by Forbes Middle East. This award reflects the bank’s strength and dedication during these unprecedented