QIIB Wins "Best Islamic Bank in Qatar" Sukuk Award

Doha, June 15 (QNA) - Qatar International Islamic Bank (QIIB) has received the award for the "Best Islamic Bank in Qatar" in the area of sukuk instruments at the Global Sukuk Summit in London, which was attended by Qatar Central Bank Governor HE Sheikh Abdullah bin Saoud Al-Thani and high-level personalities from the financial industry and business in the Middle East and the world. QIIB Chairman and Managing Director HE Sheikh Dr. Khalid bin Thani bin Abdullah Al Thani was honored at the event, which has become an important one in view of the great developments in the sukuk market at the international level. The award was given in recognition of International Islamic's achievements in the sukuk market in particular and in the Islamic finance industry in general. By winning the award, International Islamic has established its prestigious position, locally and internationally. "Sukuks have become a key tool and an important market in Islamic banking. Global sukuk markets have been going from strength to strength, which is evident from the overwhelming response to the instruments worth billions of dollars on offer. This comes as a logical response to the needs of the market," HE Sheikh Dr. Khalid said commenting on the award. "The importance of the Islamic instruments can be gauged from some recent specialized economic reports that estimated that the size of the global sukuk markets reached $130 billion in 2012, up 50 percent on the previous year," he added. HE Sheikh Dr. Khalid expressed delight at the award and said it would further motivate the bank to design and focus on more such Islamic instruments and participate in the process of developing the global sukuk market by cooperating with all banking entities in the region and around the world.