Qatar Islamic Bank named Islamic Bank of the Year in the Middle East

Qatar Islamic Bank (QIB) has been awarded the title of “Islamic Bank of the Year in the Middle East” by “The Banker”, part of the Financial Times Group, at the 2025 Islamic Banking Awards.

The award recognises institutions offering performance, innovation, and leadership in Shariah-compliant financial services across global markets.

The recognition highlights QIB’s position in the Islamic finance sector, particularly its continued investment in digital innovation and focus on offering Shariah-compliant financial solutions.

The bank has expanded its portfolio of digital services while maintaining strong financial performance in a competitive regional market.

In the first quarter of 2025, QIB reported a net profit of 985 million Qatari riyals, marking a 3.1% year-on-year increase. Total assets reached 212 billion riyals. The bank reported a cost-to-income ratio of 16.6%, the lowest in Qatar’s banking sector, and maintained a non-performing financing assets ratio of 1.76%.

QIB’s financing-to-deposit ratio remained within regulatory limits, reflecting what it described as a prudent approach to risk management. The bank also retained strong credit ratings: Fitch affirmed its ‘A’ rating with a stable outlook; Moody’s maintained its ‘A1’ long-term deposit rating; and Capital Intelligence kept the bank’s long-term rating at ‘AA-’, all with stable outlooks.

The bank has introduced several digital features in recent years, including real-time digital onboarding for new customers and instant personal financing through its mobile application. The QIB app now includes more than 300 features.

In addition to core banking services, QIB has launched digital marketplaces within its app. These include a platform for local SMEs and an auto marketplace allowing customers to browse, test drive, and finance vehicles.