The leading financial magazine has selected QIB as one of the world’s best financial and business institutions to respond to the pandemic-related challenges on customers, employees, and the community

4 November 2020 – Doha, Qatar: Qatar Islamic Bank (QIB) is pleased to announce its award as one of the world’s top financial and business institutions to weather the COVID-19 implications on customers, employees and the wider community as part of the recently published Global Finance’s Outstanding Crisis Leadership 2020 Report.

Global Finance’s Outstanding Crisis Leadership 2020 program recognized banks and companies that excelled in responding to the global pandemic, and those that went above and beyond to assist their customers, protect their employees and provide critical support to society at large. Each of the recognized institutions were selected individually by three independent researchers and the Global Finance editor, and the evaluations considered each institution’s efforts to mitigate the pandemic-related challenges.

Commenting on the bank’s recognition, Mr. Bassel Gamal, QIB’s Group CEO said: “We are pleased to once again be recognized on a global level for our management during these unprecedented times. I have said this before but have to repeat that the safety of our employees and customers was and still is the absolute number one priority for our Board of Directors and our management team. Thanks to our recent investments in digital banking, we have succeeded to impeccably continue offering the fastest, safest and most convenient banking services to all our retail and corporate customers, allowing them to fulfill all their banking needs safely and remotely.”

“Being a socially responsible bank, we have extended support to our corporate and individual customers in this time of financial uncertainty by deferring financial installments for the sectors most hit by the crisis, in line with the governmental and Qatar Central Bank’s directives, and we are actively participating in the Covid-19 response programs initiated by the government and the Qatar Central Bank. We have also invested in educating the community on the importance of protecting themselves and the people around them, and we have contributed to impactful largescale awareness campaigns with governmental and non-governmental organizations. We are sincerely proud to see the positive interaction and feedback from the community members with regards to all the awareness initiatives we took part in.” Mr Gamal Added. 

Since March 2020, QIB was able to implement a comprehensive “Bank Safely from Home” campaign at the onset of the pandemic, which saw an unprecedented increase in reliance on digital channels by QIB existing and new customers. Relying on its advanced digital channels, QIB was able to ensure business continuity and offer all its banking products & services to retail and corporate customers while only 20% of its employees were working from their offices between April and June 2020. The Bank took a proactive response to the economic implications of the pandemic especially on SMEs, immediately postponing financial instalments for SMEs and then taking part in the Covid-19 National Response Guarantee Program. 

To thank COVID-19 frontliners, and as a tribute to their efforts in keeping the entire community safe, QIB introduced an exclusive Certificate of Deposit to support frontline workers in increasing their long-term savings, with exclusive returns allowing them to benefit from a higher expected profit rate.

In collaboration with the Ministry of Public Health, PHCC and HMC, QIB has supported a nation-wide public awareness initiatives to spread awareness on the importance of following safe practices during the COVID-19 crisis, and has successfully implemented social media campaigns that helped educate the community on the required hygiene practices to stop the spread of the virus and remain safe. In addition, QIB has also initiated social campaigns to help the community in need during these difficult times, including the distribution of food baskets, donation of laptops to school students, and carrying a blood donation initiative.

Headquartered in New York with offices around the world, Global Finance’s audience includes senior corporate and financial executives responsible for making investment and strategic decisions at multinational companies and financial institutions. The magazine regularly selects the top performing banks and other providers of financial services, and its awards have become a trusted standard of excellence within the global financial community.