QIB buys IBQ's Islamic assets

QIB buys IBQ's Islamic assets

Published: January 3, 2012

Deal includes corporate financing and deposit accounts portfolios.

Qatar Islamic Bank (QIB) has acquired the International Bank of Qatar’s (IBQ) Islamic banking corporate portfolio.

The sale includes IBQ’s Islamic corporate financing facilities and deposit account portfolios.

Ahmad Meshari, acting CEO of QIB, said the deal will strengthen the bank’s position in the local and international Islamic banking markets. “The deal also proves that Islamic banking can provide optimal innovative financial solutions to corporate customers,” he added.