Doha, Qatar: Qatar Islamic Bank (QIB), Qatar’s leading digital bank, has been named Islamic Bank of the Year in the Middle East by The Banker (Financial Times Group) at The Islamic Banking Awards 2025. The recognition reflects QIB’s leadership in Islamic finance, its continued investment in innovation, and its focus on delivering secure, Shari’a-compliant financial solutions across the region.
The award comes as QIB continues to strengthen its position as one of the most efficient and digitally advanced Islamic banks in the region. In the first quarter of 2025, QIB reported a net profit of QAR 985 million, a 3.1% increase over the same period last year. Total assets grew to QAR 212 billion, while the Bank maintained a cost-to-income ratio of 16.6%, the best in the Qatari banking sector. QIB also continued to demonstrate prudent risk management, with a non-performing financing assets ratio of 1.76% and a financing-to-deposit ratio well within regulatory limits.
QIB’s financial strength continues to be recognized by international rating agencies. In 2024, Fitch Ratings affirmed QIB’s rating at ‘A’ with a stable outlook, Moody’s affirmed the Bank’s long-term deposit ratings at ‘A1’ with a stable outlook, and Capital Intelligence Ratings affirmed the Bank’s long-term rating at
‘AA-‘ with a stable outlook.
Over the past years, the Bank introduced several first-to-market innovations that have simplified banking for customers. Key milestones include real-time digital onboarding for new customers, and instant personal financing through the QIB Mobile App, which is now offering over 300 features and a refined user experience.
The Bank has introduced new innovations beyond banking including the QIB Marketplace providing a diverse range of products and including a section for local SMEs to display & sell products. QIB has also introduced the first Auto Marketplace in Qatar, also within its mobile app, enabling customers to browse, book a test drive, select and finance vehicles online.
With a focus on digital transformation, financial inclusion, and sustainable growth, the Bank continues to drive innovation, offer modern banking solutions, and support Qatar National Vision 2030 for a dynamic, diversified economy. Furthermore, QIB has been continuously outperforming the market and delivering continuous value to its shareholders.
Commenting on the recognition, Mr. Bassel Gamal, QIB Group CEO, said: “We are pleased to be named Islamic Bank of the Year in the Middle East by The Banker. On this occasion, I would like to extend my appreciation to QIB’s Board of Directors, the entire QIB team and our customers for their trust and support. This award reflects the success of our strategy and our commitment to innovation. We continue to focus on delivering responsible, Shari’a-compliant financial services that create value for our customers, our shareholders and support Qatar’s economic development.”
The Banker Islamic Banking Awards are among the industry’s most respected recognitions, celebrating institutions that deliver innovation, performance, and excellence in Shari’a-compliant financial services.
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