Qatar PR Network, Online Press Release from qatar and Doha city
Featured in Banking and Investments
Standard Chartered Global Focus Q3 2021: Navigating a Vulnerable Recovery

25, July 2021:  Standard Chartered expects global growth to rebound to 5.8% in 2021 from -3.3% in 2020 as economies reopen and vaccination rollouts gain momentum.   According to the latest Global Focus – containing the Bank’s economic forecasts for Q3 – it sees two key downside risks to the outlook: (1) a more extensive resurgence of pandemic cases resulting from new variants, which could force the extension or re-imposition of restrictions; and (2) a more sustained surge in inflation that damages consumer confidence and forces a swifter tightening of monetary policy.   The two risks are linked, as current supply-chain pressures (and related costs) could worsen if a COVID resurgence disrupts global production again. Eighteen months on from the first COVID-19 cases, some parts of the world are ......read more

New Covid-19 Response Report Charts Qatar's Bid to Bolster Food Security and Step Up Local Production

Lula Hypermarket and Oxford Business Group team up for latest project Doha, July 25, 2021:  A new Covid-19 Response Report produced by Oxford Business Group (OBG) in partnership with the retail chain Lula Hypermarket, maps out Qatar’s successful efforts to strengthen food security and enhance self-sufficiency by stepping up domestic production capacity and easing reliance on imports. Titled “Food Security in Qatar”, the report provides in-depth analysis of the topic, ranging from food production to retail, in an easy-to-navigate and accessible format, supported by key data and infographics.  The report explores Qatar’s preparedness for the food security challenges that accompanied the pandemic, which led to a sharpened focus on agri-tech solutions, such as vertical farming and hydroponic ......read more

Bedaya Center Hosts Feasibility Study Impact Workshop for Entrepreneurs

Doha, Qatar – 22, July 2021:  Bedaya Center for Entrepreneurship and Career Development (Bedaya Center), a joint initiative by Qatar Development Bank and Silatech, in collaboration with the renowned “Bait al Mashura Finance Consultations”, successfully concluded a workshop, which highlighted the importance of feasibility study and ways of conducting and preparing it. The workshop was live streamed via the interactive “ZOOM” video communications platform.  During the workshop, a certified Consultant at Bait al Mashura Finance Consultations, highlighted the importance of concept review and vitality of the economic feasibility study, and harped on its content, the steps needed for preparing it, the importance of acquiring the skills for formulating pilot studies. He also highlighted the basics ......read more

Al Khaliji Reports H1, 2021 Net Profit of QAR 372 Million – 3% Growth Year on Year

• Net profit of QAR 372 million, an increase of 3% year on year • Net Operating Income grew 13% year on year, ending at QAR 750 million • Operating expenses of QAR 168.5 million, resulting in a cost/income ratio of 22.5% • Loans and Deposits increased by 12% and 9% year on year respectively  • The Capital Adequacy ratio stood at a healthy 20.3%   Doha, July 15, 2021: Al Khalij Commercial Bank (al khaliji) P.Q.S.C., announced its financial results for the half year ended June 30, 2021, reporting a Net Profit of QAR 372 million. This represents an increase of 3% over its financial results for the same period of last year.   His Excellency Sheikh Hamad Bin Faisal Bin Thani Al Thani, Chairman and Managing Director stated:   “We are pleased to report a steady set ......read more

Qatar FinTech Hub, a QDB Incubator, Concludes Demo Day for Wave 2 of its Incubator and Accelerator Programs and Opens Applications for Wave 3

Doha, Qatar – 15, July 2021: Qatar FinTech Hub, founded by Qatar Development Bank (QDB), to support the growth of the FinTech industry in Qatar, has concluded the Second Virtual Demo Day for Wave 2 of its flagship Incubator and Accelerator Programs which was held on 1st July 2021. Sponsored by Doha Bank, QFTH Demo Day for Wave 2 presented the ideal launchpad for 22 graduating FinTechs as they got to introduce a host of new and empowering services that would accelerate the digital transformation of the local, regional, and global financial markets. The event saw the participation of 11 early-stage startups and 11 mature FinTechs, including remarkable FinTechs from Qatar such as Snoonu Trading and Services, a beyond one stop shopping and delivery service with payments functionality; Karty, a payment card paired with a ......read more

LG Releases Preliminary Earnings for Second-quarter 2021

July 12, 2021:  LG Electronics Inc. (LG) today announced its preliminary earnings results for the second quarter of 2021. LG reported tentative consolidated revenues of KRW 17.1 trillion, an increase of 48.4 percent from the same quarter the previous year and the highest quarterly revenue in the company’s history. Operating profit of KRW 1.1 trillion is expected to be 65.5 percent higher than the second quarter a year ago. With the official closure of the LG Mobile Communications Company at the end of the month, the unit’s earnings will not be reflected in this quarter’s earnings report and will be treated as discontinued operating losses. Earnings for the first quarter of 2021 will also be adjusted to reflect this change, to KRW 17.8 trillion in revenues and KRW 1.8 trillion in operating profit. These ......read more

Dukhan Bank Announces the July Draw Winners of its Thara'a Savings Account Prize

Doha, Qatar – 11, July 2021:  Dukhan Bank announced the names of the most recent round of draw winners for Thara’a, its Shariah compliant savings account, at the Bank’s headquarters.  As the draw results showed, the bank clients Shaikha Al-Mass and Yousef Awad each won a cash prize of 50,000 Qatari Riyals. Also, a cash prize worth 25,000 Qatari Riyals was awarded to Rana Salman and Mohammad Al-shiram. The draw was conducted under the supervision of a representative of the qualitative license and market control department at the Ministry of Commerce and Industry. On a monthly basis, there are 42 winners per draw for the cash prize of 5,000 Qatari Riyals each, as well as 2 winners per draw for the cash prize of 10,000 Qatari Riyals. Additionally, quarterly there are 2 winners per draw for the ......read more

Dukhan Bank Announces the Successful Debut Issuance of Additional Tier 1 USD500m Sukuk at the Lowest Price for this Type of Issuance in Qatar

• Issuance of Additional Tier 1 Sukuk with a value of USD500m and profit rate of 3.95%. The issuance was more than 4.5 times oversubscribed with order books peaking at USD2.35bn • The significant demand for the issuance confirms the strength of the financial position and the confidence enjoyed by Dukhan Bank and the Qatari economy amongst the global investor community.  Doha, Qatar – 8, July 2021: Dukhan Bank announced the issuance of its debut Additional Tier 1 USD500m Sukuk. The Sukuk is priced with a profit rate of 3.95%, the lowest rate for this type of issuance in the Qatari market. In addition to providing the lowest pricing in Qatar, the books were covered 4.5 times, peaking at USD2.35 billion. This is reflective of the strength of the Qatari economy, which enjoys significant global confidence. ......read more

Masraf Al Rayan and Al Khaliji appoint Fahad Bin Abdalla Al Khalifa as Group CEO of the Merged Entity

Doha 5, July 2021- Following the merger announcement on January 7, 2021, Masraf Al Rayan QPSC (“Al Rayan”) and Al Khalij Commercial Bank (al khaliji) PQSC (“Al Khaliji”) have announced the appointment of Mr. Fahad Bin Abdalla Al Khalifa as the "Group CEO" of the merged bank from the date the shareholders of both banks Al Rayan and Al Khaliji approve the merger and obtaining Qatar Central Bank final approval on the merger, subject to all necessary approvals on the appointment. Following the merger, Al Khaliji's business will be absorbed into Al Rayan's business, and Al Rayan will be the remaining legal entity, which will continue to operate in accordance with Islamic Shari’ah principles. Mr. Al Khalifa is a senior banker with over 25 years of experience. He started his career in ......read more

QIB's Financial Literacy Program ‘How Money Works?' Sees 1629 Students Benefit Over 3 Academic Years

The program reached students of 82 high schools and universities in Qatar with 41 QIB volunteers taking part in the program’s sessions since 2018 Doha, Qatar – 01, July  2021: Qatar Islamic Bank (QIB) announced the successful conclusion of its financial literacy program ‘How Money works?’ in its third academic year with 1629 high school and university students benefiting from the program since its launch in 2018. Developed by QIB in collaboration with INJAZ Qatar, the program has reached students of 82 high schools and universities in Qatar, and its sessions were held by 41 QIB volunteers who took part in delivering the program’s sessions across the past three academic years. All sessions were tailored to introduce secondary and first year university students to best practices related ......read more

Al Khalij Commercial Bank (al khaliji) PQSC announces that its Board of Directors will meet on 15 July 2021

Al Khalij Commercial Bank (al khaliji) PQSC announces that its Board of Directors will meet on 15 July 2021 to approve and disclose Q2 2021 results. 

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Qatar FinTech Hub, a QDB Incubator, Hosts Demo Day for Wave 2 of its Incubator and Accelerator Programs

Innovative and leading FinTechs from across the globe to showcase their solutions on 1st July    Doha, Qatar – 29, June 2021:  Qatar FinTech Hub (QFTH), founded by Qatar Development Bank (QDB) to support the growth of the FinTech industry in Qatar, has announced the Demo Day for Wave 2 of its flagship Incubator and Accelerator Programs which will take place on 1st July 2021, virtually. QFTH Demo Day for Wave 2, sponsored by Doha Bank, will be one of the major FinTech events in the region hosting key players from the local financial services ecosystem, as well as investors, global startups, international FinTech hubs, aspiring entrepreneurs and FinTech enthusiasts.  Under the theme, ‘Emerging Technologies’, the program has received tremendous traction during Wave 2 with over 550 ......read more

QIB-UK Presents The Real Estate View from London Report June 2021

June 27, 2021:  Following the latest QIB-UK Real Estate View from London Report, in this issue we discuss the state of the sector almost one and a half years on since the onset of COVID-19, as well as take a closer look at the latest updates around the fight against the pandemic, vaccination pace, the relaxation of travel restrictions, and other factors impacting the London Property market today.  London’s Real Estate Sector Coping with COVID-19 Since the emergence of the Pandemic, the London prime residential markets are exhibiting signs of successfully being able to cope with most of the COVID-related disruptions, supported by the stamp duty holiday in place since summer 2020. According to data consultancy LonRes, the  number of Prime Central London (PCL) transactions that took place in March 2021 is ......read more

Day 3 of the ‘Qatar Economic Forum, Powered by Bloomberg' Explores Diverse Themes, Including Technology, Sustainability, Food Security, Travel and Tourism and Real Estate

The inaugural “Qatar Economic Forum, Powered by Bloomberg” has been welcoming a global delegation of more than 2,000 government leaders, chief executives, influential voices and decision-makers in the fields of finance, economics, investment, technology, energy, education, sports and climate in an effort to identify opportunities, present solutions and rethink the global economic landscape through the lens of the Middle East.   Highlights from Day 3’s industry roundtable discussions and Session 5 include:    ● 5G Growth Goals: A Turbo-boost to Commerce: Jawad Abbassi, Head of MENA, GSMA; Ernest L. Cu, President and CEO, Globe Telecom; Katrina Luna-Abelarde, FVP and Head of International & Carrier Business Group, PLDT-Smart; Mysore Madhusudhan, Executive Vice President, Collaboration ......read more

Day 2 of the ‘Qatar Economic Forum, Powered by Bloomberg' Explores Digital Transformation and Its Effects on Business and Society

The inaugural “Qatar Economic Forum, Powered by Bloomberg” opened yesterday, welcoming a global delegation of more than 2,000 government leaders, chief executives, influential voices and decision-makers in the fields of finance, economics, investment, technology, energy, education, sports and climate in an effort to identify opportunities, present solutions and rethink the global economic landscape through the lens of the Middle East.   Highlights from the Day 2 morning sessions include:    ● The A-Z of Digital, Ruth Porat, CFO, Alphabet and Google, in conversation with Erik Schatzker, Host, Bloomberg Television,   ● Business and Behavior Transformed, Sunil Bharti Mittal, Founder and Chairman of Bharti Enterprises, in conversation with Haslinda Amin, Correspondent and Anchor, ......read more

The ‘Qatar Economic Forum, Powered by Bloomberg' to Commence on June 21 with an Opening Speech from His Highness the Amir of the State of Qatar

June 22, 2021: The inaugural “Qatar Economic Forum, Powered by Bloomberg” opened today, welcoming a global delegation of more than 2,000 government leaders, chief executives, influential voices and decision-makers in the fields of finance, economics, investment, technology, energy, education, sports and climate in an effort to identify opportunities, present solutions and rethink the global economic landscape through the lens of the Middle East.   Highlights from Day 1 include:    ● Opening address from His Highness Sheikh Tamim bin Hamad Al Thani, Amir of the State of Qatar    ● H.E. Cyril Ramaphosa, President of the Republic of South Africa; with Zain Verjee, Host and Executive Producer of the Qatar Economic Forum, Powered by Bloomberg    ● H.E. ......read more

Forbes Ranks QIC Amongst Top 100 Listed Companies in The Middle East, and Top Insurance Company on The List

June 21, 2021:  Qatar Insurance Company (QIC) was listed amongst the top 100 companies in the Middle East by Forbes Middle East Magazine’s annual ranking of the top 100 listed companies in the region for 2021. The company was ranked top insurance company in the Middle East according to the same ranking. The prestigious ranking features the region’s biggest, most valuable and profitable companies.   The new ranking reflects QIC’s ability to withstand continuity considering the COVID-19 pandemic, and its success in maintaining its longstanding position as the largest insurance company in the MENA region.  Forbes Middle East’s – a licensed edition of Forbes for the Arab World -  selection of Top 100 companies in the Middle East is based on collected data from listed stock ......read more

DIFI Named One of the Most Renowned Family Focused Organizations in the Arab World

QF member recognized for local, regional, and international efforts  Doha, Qatar, June 21, 2021: Doha International Family Institute has been named the “Best Organization to Support Family Issues in the Arab Region” for 2020 by the Department of Women, Family and Childhood in the Social Affairs Sector of the League of Arab States. The award, announced by the League of Arab States (LAS) through the permanent delegations, recognizes organizations that highlight family issues and promote societal cohesion, while encouraging the protection of families. DIFI was nominated by Ministry of Administrative Development, Labor and Social Affairs to represent the state of Qatar.  Dr. Sharifa Noaman Al Emadi, Executive Director, DIFI – a member of Qatar Foundation – said: “It is a honor for DIFI to ......read more

QIB Announces the Final Lexus LX 570 Winner Part of Exclusive Salary Transfer Offer

Doha, Qatar – 19 June 2021:  Qatar Islamic Bank (QIB) has announced the third and final Lexus LX 570 Winner as part of the Bank’s Salary Transfer offer. The offer, ended in May, provided 3 QIB customers the chance to win luxury Lexus cars, in addition to a range of exclusive benefits for all customers transferring their salaries and finance to QIB between February and May 2021. QIB customer Ms. Khloud Rashed Al-Marri was the third lucky winner who drove home the latest Lexus LX 570, following the offer’s third and last draw, conducted last week in the presence of representatives from the Ministry of Commerce and Industry and QIB officials. Ms. Khloud Rashed Al-Marri said: “Choosing QIB as my bank was one of the best financial choices in my life. I would like to thank QIB for this amazing prize, and I am ......read more

The ‘Qatar Economic Forum, Powered by Bloomberg' to commence on June 21 with an opening speech from His Highness Sheikh Tamim bin Hamad Al Thani, the Amir of the State of Qatar

Global government leaders include H.E. Nana Akufo-Addo, The Rt Hon Boris Johnson, H.E. Paul Kagame, H.E. Cyril Ramaphosa, H.E. Macky Sall, and H.E. Armen Sarkissian  More than 100 speakers from around the world will participate in the forum including H.E. Ali bin Ahmed Al Kuwari, David Beckham, Gordon Brown, Natarajan Chandrasekaran, Hillary Rodham Clinton, Dr. Herbert Diess, Didier Drogba, Dr. Leila Fourie, Ignacio Galán, Mo Ibrahim, Graça Machel, Ngozi Okonjo-Iweala, General David H. Petraeus, Ruth Porat, Stephen A. Schwarzman, Jane Sun, Baroness Shriti Vadera, Ben van Beurden, Axel Weber, and many others DOHA, June 19, 2021 – His Highness Sheikh Tamim bin Hamad Al Thani, the Amir of the State of Qatar, will deliver the opening speech at the “Qatar Economic Forum, powered by Bloomberg” which will ......read more

QIB Launches New Generation of its Top and Most Rated Mobile Banking App in Qatar

The new App is offering a new leading-edge user experience, marking a significant shift in the bank’s customer-centric approach  Following the latest international standards, the new App gives customers full control over their finances at anytime from anywhere in the world  Doha, Qatar – 14 June 2021:  Qatar Islamic Bank (QIB), Qatar’s leading digital bank, has announced the launch of an all-new version of its award-winning Mobile App. Creating a simplified and more engaging user experience, the revamped application adopts a convenient, “step by step”, approach with enhanced navigation to enable easy and full access to the bank’s digital services.  The new QIB Mobile App features easy-to-use English and Arabic interfaces, secure and smart biometric login, ......read more

Dukhan Bank announces the June draw winners of its Thara'a savings account prize

Doha, Qatar – 12 June 2021 – Dukhan Bank announced the names of the most recent round of draw winners for Thara’a, its Shariah compliant savings account, at the Bank’s headquarters.  As the draw results showed, the bank clients Ameera  Al-Saadi and Ahmed Al-Kaabi each won a cash prize of 10,000 Qatari Riyals. Also, a cash prize worth 5,000 Qatari Riyals was awarded to Ossama Eliwa, A.Aziz  Fakhroo, Nojoud   Al-Jaber, Mohamed Elserhy, Khalifa Al-Abdulla, Dhabya Al-Mannai, Humood Al-Shamari, Hamad Al-Marri, Fatima Abdulla, Eman Shreiteh, Jamal Al-Baker, Prem Kasilingam, Ahmad   Elatrash, Mohammad Qusad, Ricci Morales, Hasina Al-Ali, Naeema Alansari, Ahmed   Yacoub, Zaid Hasan, Hadeel Alfaour, Sara Almaraghi, Rula Kamel and Inam Alalami, Noora Al-Najar, Hamad Al-Joof, ......read more

MEEZA Attains for its First time 4 Microsoft Gold Certifications

Doha, Qatar –12 June 2021 – MEEZA, Qatar’s pioneering Managed IT services and solutions provider, has been awarded 4 Gold certifications in the domains of Cloud Platform, Application Development, Application integration and Data Centre offerings hence achieving the Gold Partner status by Microsoft. The enhanced partnership status recognizes MEEZA’s outstanding efforts in bringing to market best-of-breed skills and services as it aligns closely with its top-tier strategic partners across its vast ecosystem. Furthermore, such an achievement validates MEEZA’s continued support for the Government’s “Cloud First” directives and once again positions MEEZA as one of the most mature Cloud partners, across the region, for clients ready to be digitally transformed and make the journey into Cloud ......read more

QIB and Mastercard Announce Cards Summer Campaign

Doha, Qatar - 12 June 2021:  Qatar Islamic Bank (QIB) has partnered with Mastercard to launch the 2021 edition of its annual ‘Cards Summer Spends’ promotion for Mastercard Credit and Debit cardholders.  Customers who will use their QIB Mastercard Debit Card internationally or Mastercard Credit Card locally or internationally between 1st June and 31st August 2021 will automatically qualify to win prizes up to QAR 100,000.  For every QAR 5,000 weekly spend, customers will receive one entry into the weekly draw throughout the period of the promotion. Over the course of the ‘Cards Summer Spends' promotion, QIB and Mastercard will award a total of 13 lucky winners with QAR 25,000 in cash prizes with one winner each week.  For every QAR 25,000 spend during the duration of the campaign, ......read more

Qatar Viewpoint: Back to (Gas) Basics

June 10, 2021:   Macro: Back to (gas) basics Qatar's renewed Liquefied Natural Gas (LNG) expansion plans could have important economic and market implications over the medium-term. Qatar Petroleum (QP) is planning to increase LNG production capacity in 2027 by 63% to 126mtpa. We estimate the economy could now double in size, with nominal GDP reaching cUS$300bn by 2027. This is likely to boost sovereign creditworthiness, economic activity and twin surpluses. Still, the growth model post-2027 is unclear without reforms. Qatar - GCC macro ties not yet warming up The resolution of the Qatar-Gulf Cooperation Council (GCC) rift is unlikely to lead to major macro gains, in our view. Underlying policy orientations and differences between Qatar and the Quartet are likely to remain in place. Economic links are likely to be ......read more

Bassel Gamal, QIB's Group CEO, Reveals What He Believes Is Islamic Banking's Biggest Challenge

Group CEO of Qatar Islamic Bank, Bassel Gamal Mr. Bassel Gamal, QIB’s Group CEO, gave an interview to Forbes Middle East magazine. Featured on the cover page, where he shed light on QIB’s development and growth achieved despite the COVID-19 challenges. He stated that the great success the Bank has achieved on the level of digitizing its products and services was only realized thanks to the complete dedication of the Bank’s employees and to the continuous support of the Board of Directors. Below is Forbes interview: Globally, the $2.2 trillion Islamic banking industry seems to be facing up to economic challenges, with S&P Global Ratings predicting that it could grow 12% in the next two years. However, Bassel Gamal, Group CEO of the Qatar Islamic Bank (QIB), believes it must still fight a key ......read more

Snoonu Launches a ‘No Riders Under the Sun' Initiative to Protect its Drivers from the Summer Heat

Starting from mid-May, Snoonu has halted deliveries via their vast fleet of motorbikes during the day, transitioning exclusively to car deliveries for the summer season  08 June 2021 – Doha, Qatar:  Qatar’s leading tech startup, Snoonu, is pleased to announce the launch of its ‘No Riders Under the Sun’ initiative, aimed at preserving the health and wellbeing of its employees during the hottest summer months in Qatar.  Since mid-May, deliveries between 10am and 5pm are being completed exclusively via Snoonu cars to protect drivers from the harsh elements of the sun and heat and to ensure that humane working conditions are maintained for all employees. The company is aiming to continue this initiative until the end of the summer season. Hamad Al Hajri, Snoonu co-founder and CEO, said: ......read more

QIB Awarded Islamic Bank of the Year in Qatar and the UK

At The Banker Magazine’s “Islamic Bank of the Year 2021” Awards Doha, Qatar – 5 June 2021: Qatar Islamic Bank (QIB) has received the prestigious ‘Islamic Bank of the Year in Qatar’ for the 9th consecutive year, and ‘Islamic Bank of the Year in The United Kingdom’ at The Banker Magazine’s Islamic Bank of the Year 2021 Awards. The two prestigious titles were awarded to QIB Qatar and QIB UK respectively, in recognition of their outstanding performance through 2020, and their success in outperforming the competition in terms of financial performance, digitization of banking products, and innovation in the world of Sharia-compliant banking in both Qatar and the UK. Established in 1926, The Banker Magazine is read by senior decision makers at the world’s foremost ......read more

Snoonu Joins Qatari Delegation at Saint-Petersburg Economic Forum

Between 2-5 June, Snoonu will take part in this unique event bringing together world political and economic leaders since 1997 This year, Qatar joins the Forum as the official Guest Country with the third-largest delegation in the history of the forum  Snoonu will take part in the forum alongside nine other handpicked SMEs selected to accompany Qatar Development Bank at the Forum 5 June 2021 – Doha, Qatar: Doha-based e-commerce startup, Snoonu, is pleased to announce its participation in the Saint-Petersburg Economic Forum (SPIEF), a prestigious platform for a multi-level dialogue between political and business leaders held each year under the auspices of the President of the Russian Federation. Snoonu co-founder and CEO Hamad Al Hajri and CMO Sabina Abuova will represent Snoonu at SPIEF that has honoured the ......read more

MEEZA Achieves Cisco Gold Service Integrator and Gold Service Provider Certificate, a first-time Standard in the State of Qatar

June 05, 2021:  MEEZA announced the achievement of multiple Cisco Gold partnership levels, including for the first time in the state of Qatar the Gold Service Provider and Service Integrator certificates. With such achievements, MEEZA continues to expand its role as a trusted advisor and a digital transformation partner for our clients who look to Cisco advanced solutions for an unmatched digital experience. The Cisco Integrator program acknowledges MEEZA’s leadership and investments into all areas of Cloud, Networking and Security. MEEZA has been keen on expanding its tier-1 partnership ecosystem to combine the power and value of its Qatar-based operations and assets with the likes of Cisco solutions to create and deliver value-add Managed Service offerings to our customers based on their tailormade requirements. By ......read more

Poster on National Address Query

Qatar, May 31, 2021:  The company owners and representatives can track their staff's national address registration through the Metrash2 app or Mol website www.moi.gov.qa

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Qatar FinTech Hub, a QDB Incubator, Ranks 2nd Largest FinTech Investor in the Region by MAGNiTT's MENA Fintech Venture Investment Report

Doha, Qatar – 31 May 2021: Qatar FinTech Hub (QFTH), founded by Qatar Development Bank (QDB), to support the growth of the FinTech industry in Qatar, was ranked as the second top investor in FinTechs across the MENA region in the first quarter of 2021 by startups research and intelligence firm, MAGNiTT. The MENA Fintech Venture Report is one of MAGNiTT's flagship industry reports. It takes a comprehensive look at the sector’s quarterly performance within the venture capital and startup ecosystems in the MENA region. The report aggregates and analyses tech startup investments in 17 countries, including Algeria, Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Palestine, Qatar, Saudi Arabia, Syria, Tunisia, United Arab Emirates, and Yemen. Commenting on QFTH’s newest ranking, Mr. ......read more

QIB Customers Can Now Redeem Absher Points for QIB Gift Cards through QIB Mobile App

Doha, Qatar – 30 May 2021: Qatar Islamic Bank (QIB) has announced a new update to its Absher Rewards Program, adding the option for customers to redeem their Absher points in real-time against QIB Hadiyati Gift Prepaid Cards with a credit from QAR 200 to QAR 5,000. The Hadiyati Card is an ideal way to gift, reward or show you care to your loved ones with the Gift amount you want instead of cash, on special occasions and festive celebrations. The Hadiyati Card is also an effective and secure gift option for corporations as it can be used as a mean to provide company rewards to employees on special occasions. QIB’s Hadiyati Cards offer the flexibility to pre-load any value from QAR 200 up to QAR 5,000 for each card. Cardholders can use their cards while shopping at all point of sales machines (PoS) both locally and ......read more

Moody's Re-Affirms QIB's A1 Rating with Stable Outlook

30, May 2021 - Doha, Qatar:  Moody’s Investors Service (Moody’s) has reconfirmed the long-term deposit rating of Qatar Islamic Bank (QIB) at A1, with a stable outlook.   Moody’s said in its Credit Opinion Report that QIB’s assigned rating reflects the bank's strong asset quality, strong and stable profitability, adequate capital and liquidity buffers, supported by its established and growing Islamic banking franchise and exceptional cost efficiency, adding that QIB’s stable outlook also takes into account the stable outlook on the Qatari government's bond rating of Aa3.   On the Bank’s profitability, Moody’s said that “QIB has consistently reported strong and broadly stable profitability. This performance is supported by the strong financing ......read more

Qatar – Increased Focus on Gas - BofA

Qatar in Focus Increased focus on gas May 30, 2021:  Qatar's conservative 2021 budget and robust policy response to the Covid crisis support a cyclical recovery. The resolution of the Qatar-Gulf Cooperation Council (GCC) rift is unlikely to lead to major macro gains, in our view. Qatar could become the swing Liquefied Natural Gas (LNG) producer going forward, with market share focus and more flexible pricing. We expect its LNG expansion plans to boost real GDP growth and fiscal surpluses to high-single digits and mid-single digits on average over 2021-27. This is likely to underpin sovereign creditworthiness, but the growth model post-2027 is unclear.    

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Can Alternative Segments Reboot Gulf Tourism's Covid-19 Recovery?

– Saudi Arabia’s Red Sea tourism project secures green financing – The Gulf region looks to eco-tourism initiatives such as glamping – The UAE is at the forefront of new approaches to tourism – Digital nomads and “long stay travel” constitute an emerging trend With Saudi Arabia's flagship Red Sea tourism project securing $3.8bn in green financing, various governments in the Gulf region are looking to new, alternative tourism models to drive the coronavirus recoveries in this important sector, with an emphasis on ecological options and staycations. Both in order to reboot its tourism industry and as part of its drive to diversify the economy away from hydrocarbons, Saudi Arabia is developing several major ecological tourism projects. In April the Red Sea Development Company – ......read more

QIB Recognized for Its Outstanding Innovations at the Global Finance 2021 Innovators Awards

QIB’s Domestic Workers Digital Accounts and Integrated Services on POS for Corporate and SMEs ranked amongst top innovations in Islamic Finance this year Doha, Qatar – 23 May 2021: Qatar Islamic Bank (QIB) was again crowned for revolutionizing the banking sector in Qatar and the global Islamic Banking industry with the introduction of innovative digital banking solutions for both retail and corporate customers. The Bank was awarded two prestigious accolades at Global Finance’s 2021 Innovators Awards, with both QIB’s Domestic Workers Digital Accounts and Integrated Services on PoS for Corporate and SME Customers winning ‘Outstanding Innovations in Islamic Finance’. In its ninth annual selection for The Innovators - the unique recognition program that honors entities that regularly identify ......read more

Snoonu Completes its Charitable Al-Quds Campaign in Partnership with Qatar Red Crescent

Between May 11th and May 18th, Snoonu contributed 1 QR from each order on the Snoonu App to Qatar Red Crescent Al Quds programme to support hospitals in Jerusalem. 22, May 2021 – Doha, Qatar:  Doha-based e-commerce startup, Snoonu, is pleased to announce that it completed its corporate social responsibility (CSR) initiative in collaboration with Qatar Red Crescent (QRC), hosted from 11th to the 18th of May to support building hospitals in Jerusalem, as part of QRC’s Al-Quds humanitarian campaign. Through this initiative, Snoonu aims to improve access to healthcare for Palestinians and raise awareness about illegal humanitarian violations, forced expulsion and other oppressive practices endured by the Palestinian people. Co-founder and CEO of Snoonu, Hamad Al Hajri commented saying: “As the violence ......read more

World Expert in Entrepreneurial Leadership, Diversity and Inclusion Joins HEC Paris in Qatar

Shaheena Janjuha-Jivraj is a prolific researcher, author and advisor to business and governments. Her appointment as Associate Professor forms part of HEC Paris’ efforts to strengthen offerings in entrepreneurship and leadership and to provide programs focusing on women and leadership across all sectors.   20 May 2021:  Leading expert in entrepreneurial leadership, Dr. Shaheena Janjuha-Jivraj, has joined HEC Paris faculty in Qatar this semester. Her appointment as Associate Professor is set to accelerate world-class research and teaching in the areas of innovation, entrepreneurship and leadership with a particular focus on diversity at the Doha-based campus.  A prolific researcher, author and speaker, Dr. Janjuha-Jivraj was Associate Professor of Entrepreneurial Leadership at Henley Business School, and ......read more

Dukhan Bank First Bank to Offer Its Customers the Opportunity to Manage Their Stocks With the Group Using Its Mobile Banking Application

• Partnership with The Group Securities  • Instant transfers via bank platforms   Doha, Qatar – May 10, 2021: With a keenness to continuously enhance services through its mobile application, Dukhan Bank, Qatar's leading banking player, is the first player in the industry to integrate with a trading service that will be offered on its mobile application. This lies within the bank’s endeavours to match its customers’ demands for online trading services.   The trading service is powered by The Group Securities (Licensed by the Qatar Financial Markets Authority), Qatar-based online trading platform, which allows customers to view real-time market data, place buy and sell stocks with a few taps, evaluate their portfolio, and analyse market at their fingertips and with utmost ......read more

Other Top Stories from Banking and Investments
 
Al Meera Acquires Two Properties for New Community Malls in Lusail…

Doha-Qatar – 09 May 2021: Al Meera Consumer Goods Company (Q.P.S.C.) has announced its acquisition of two properties from Qatari Diar where the retailer has set sights to launch Al Meera lifestyle community malls. The properties, located in Lusail’s Fox Hills District and North Residential Villas District, will serve the surrounding neighbourhoods and visitors to ......read more

Paving the Way to Conversational Banking QIB, The First Bank in Qatar, to Launch Ai Virtual ...…

Doha, Qatar – 4, May 2021: Qatar Islamic Bank (QIB) is the first bank in Qatar to launch a conversational virtual assistant armed with proprietary artificial intelligence and machine learning algorithms. ’Zaki’, meaning smart, is an additional communication channel for QIB website visitors to interact with the bank. The newly launched chatbot service is part of QIB’s ......read more

Hakkasan Group Bolsters Global Culinary Influence With Announcing Latest Hakkasan Restaurant ...…

Continued partnership with Alfardan Group and Astas Holding to usher in 11th and 12th Hakkasan locations worldwide    Doha, Qatar, May 3, 2021 – Building upon the recent momentum from expansion announcements in late 2020, global hospitality company Hakkasan Group reveals further growth with its flagship Hakkasan brand with the announcement of two new locations in Turkey. These ......read more

Dukhan Bank Acheives a Profit Growth of 10% to Reach QAR 267 Million for the First Quarter of 2021 ...…

May 03, 2021:  Dukhan Bank announced the financial results for the first quarter of 2021, which has resulted in recording of QAR 267 million net profit, thus implying a 10.3% robust growth compared to the first quarter of 2020.   The total assets of the bank, supported by financing activities, increased as well significantly to QAR 100.4 billion, accomplishing a growth of 29.7% ......read more

Burj Alfardan Wins ‘Best International Commercial High-Rise Development'…

Doha, Qatar 02 May 2021– Burj Alfardan, located in Lusail smart city’s most coveted Marina District, has been awarded the title of ‘Best International Commercial High-Rise Development’ at the 2020 International Property Awards for its outstanding architectural design, development, and sustainability aspects.  The building’s state-of-the-art design is credited ......read more

Dukhan Bank Wins Two Awards from the World Economic Magazine for its Innovative and Outstanding ...…

• Best Corporate Digital Services Qatar 2021  • Best New Contactless Payment Platform Qatar 2021    Doha, Qatar – May 02, 2021 – Dukhan Bank have been recognised by the World Economic Magazine under two categories, the Best Corporate Digital Services in Qatar 2021 and the Best New Contactless Payment Platform for (D-Pay).    The World ......read more

QIB Named Qatar's ‘Digital Bank of The Year' and Awarded ‘Best Retail Mobile Banking Experience' by ...…

Doha, Qatar –2 May 2021: Qatar Islamic Bank (QIB) was recognized as the ‘Digital Bank of the Year’ and ‘Best Retail Mobile Banking Experience’ in Qatar at The Asset Triple A Magazine’s Digital Awards 2021. This recognition reflects QIB’s success in maintaining its leadership in digital banking in Qatar, allowing its customers to fulfill their ......read more

QRCS, Qatar Post Sign Pact to Cooperate for Social Good…

May 02, 2021 ― Doha:  Qatar Red Crescent Society (QRCS) and Qatar Postal Services Company (Qatar Post) signed today an agreement to enhance their cooperation in making use of each party’s practical experience and resources towards the deployment of effective and sustainable humanitarian response. The pact was signed by Ali bin Hassan Al-Hammadi, Secretary-General of QRCS, ......read more

Al Khaliji Donates to Qatar Society for Rehabilitation of Special Needs…

Doha, Qatar, 28 April 2021 – Al Khalij Commercial Bank (al khaliji) P.Q.S.C., Qatar’s next generation bank, has announced, in the spirit of the holy month of Ramadan, a donation to the Qatar Society for Rehabilitation of Special Needs, represented by Mr. Talib Afifa, Member of the Board of Directors, This comes as part of the bank’s corporate social responsibility programme ......read more

Namaa Doha Real Estate Announces the Selling of all the First Phase Villas at Giardino Village at ...…

Doha, Qatar 28, April 2021:  Namaa Doha Real Estate has announced the selling of all the high-end villas project of phase one at Giardino Village – The Pearl, the handover being expected in Q3 2022. The project has seen a positive investor response with 41 villas being sold. Located in the most coveted neighbourhood of The Pearl – Qatar, the project at Giardino Village ......read more

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