Fitch Affirms QIIB's Rating At

QAC to supply MBM with over 50 FUSO Rosa buses PAGE 14 SUNDAY, MARCH 17, 2019 DOW25,863.23 QE 9,970.55 SENSEX 38,024.32 GOLD 1,302.20 Indian watchdog raids Glencore +153.29 PTS +208.86 PTS +269.43 PTS +0.55% biz over price of pulses PAGE 14 PRICE PERCENTAGE PRICE PERCENTAGE 15.32 BRENT 67.21 -0.03% WTI 58.56 -0.09% SILVER +0.95% Quick read QCB governor takes part in Morocco Fitch affirms QIIB’s rating fintech conference QATAR Central Bank (QCB) Gover- nor Sheikh Abdullah bin Saud al Thani took part in a conference at ‘A’ with ‘stable’ outlook organised by Bank Al-Maghrib (Morocco Central Bank) in partnership with the International We succeeded in defeating all Monetary Fund (IMF) to discuss Qatari economy is the source of strength from those who tried to undermine the challenges and opportunities the Qatari economy and were for financial technology, in Rabat, which we build our solid financial position: Shaibei able to achieve some of the recently. Sheikh Abdullah partici- highest indicators and growth pated in the two-day conference TRIBUNE NEWS NETWORK rates in the region.” titled Digital Transformation Con- DOHA “We are committed to im- ference: Balance Opportunities plementing our strategy, which and Risks in the Implementation FITCH Ratings has affirmed focuses on the local market of the Bali Financial Technology ‘A’ rating on Qatar Interna- for deriving its strength and Recommendations. (QNA) tional Islamic Bank (QIIB) stability and maintaining low with ‘stable’ outlook, the bank High quality risks, in addition to our desire announced in a statement on to contribute to the boom and Apple Watch detects Saturday. assets growth of the Qatari economy irregular heart beat The rating attests the Fitch stressed on the fact that in the best possible ratios”. in large US study bank’s strong financial posi- the rating on QIIB was due to The CEO expressed his tion and its consistency with ‘the quality of QIIB assets, optimism for future, stressing THE Apple Watch was able to the high indicators achieved appropriate capital structure, that “All the circumstances detect irregular heart pulse rates by various economic sectors in strong profitability, sound and factors make us optimis- that could signal the need for Qatar, QIIB said. tic, as the global confidence is further monitoring for a serious Fitch pointed out the rat- QIIB CEO Abdulbasit Ahmad al financing, good liquidity, good firmly established in the Qatari heart rhythm problem, accord- ing was based on several fac- Shaibei share of the Islamic banking economy. The implementation ing to data from a large study tors including the high sover- market and strong presence of large and mega projects is in funded by Apple, demonstrating a eign credit rating of the Qatari strength from which we build in the retail sector’ full swing, throwing up huge potential future role for wearable economy and the ability of the our solid financial position. opportunities and benefits. consumer technology in health- Qatari government to provide We are pleased to capitalise The government’s plans for care. Researchers hope the tech- support to banks when needed on these strengths that have economic diversification are nology can assist in early detec- as the government had previ- a positive impact on various ability to cope with various very successful, which help tion of atrial fibrillation, the most ously done. economic sectors and different challenges”. achieve daily positive indica- common form of irregular heart Fitch stressed on the fact growth figures”. The QIIB CEO affirmed tors. These have been succes- beat. Patients with untreated AF that the rating on QIIB was He said, “Global credit that the rating was an indica- sively reflected in independent are five times more likely to have also due to “the quality of QIIB rating agencies’ acknowledge- tion that the high level of con- and credible economic re- a stroke. Results of the largest assets, appropriate capital ment of our strong financial fidence in QIIB at the local, re- QIIB headquarters building in Doha. ports and analysis by experts AF screening and detection study, structure, strong profitability, position also indicates the gional and international levels who affirm that the future of involving over 400,000 Apple sound financing, good liquid- strength of the Qatari banking has been based on solid foun- listing on the London Stock issuance by more than seven the Qatari economy is indeed Watch users who were invited to ity, good share of the Islamic sector, the soundness of the dations with regard to various Exchange. The issuance large- times,” Shaibei said. bright and prosperous.” participate, were presented on banking market and strong measures taken by the gov- indicators. ly appealed to investors from He further said, “The high In 2018, QIIB achieved a Saturday at the American College presence in the retail sector”. ernment and the supervisory “This was clearly evident countries around the world, credit ratings and stable out- net profit of QR882.1 million, of Cardiology meeting in New QIIB CEO Abdulbasit Ah- authorities, the efficiency of to us during our recent issu- some of whom were dealing look of Qatari banks are a nail with a growth rate of 6% com- Orleans. (REUTERS) mad al Shaibei said, “The Qa- the plans implemented in this ance of a sukuk worth $500 with Qatari banks for the first in the coffin of the unjust block- pared to 2017 and earnings tari economy is the source of sector, the low risks and the million and its subsequent time, thus oversubscribing the ade imposed on our country. per share standing at QR5.46. QFC’s Fast, Forward event brings financial services to the forefront TRIBUNE NEWS NETWORK DOHA THE Qatar Financial Centre (QFC) recently concluded the financial services edition of its regular Fast, For- ward events - a series of quarterly Qatar National Bank offiicials receive the award at a ceremony in business networking events that bring Tunisia. together the QFC’s valued clients with other members of Qatar’s thriving business and financial communities QNB wins key honours to network and share best practices. The event focused on the importance of the financial services sector, at Arab Banks Digital with discussions revolving around the current economic state of Qatar and the role of financial services such as Excellence 2018 awards fintech, asset management, and Ren- minbi internationalisation. TRIBUNE NEWS NETWORK ment of digital services by us- QFC CEO Yousuf Mohamed al DOHA ing the latest communications Jaida said, “The financial services and information technologies. sector has unprecedented potential QATAR National Bank (QNB) QNB’s reception of these and has already witnessed significant Group recently won two key two awards serves as a pow- growth. The importance and signifi- honours at the “Arab Banks erful testament to the quality cance of this sector for both the QFC QFC CEO Yousuf Mohamed al Jaida Digital Excellence 2018” of its digital banking services and Qatar cannot be underestimated awards ceremony held in Tu- offered through its electronic – this is clearly reflected in our new nisia recently. channels, the bank said. strategy which includes a special fo- QNB won the “Best Mo- The bank is always keen on cus on financial services that encom- Speakers at the panel discussion. bile Banking Application” and developing the quality of these pass fintech, Islamic finance, capital The QFC is home to over 90 local “Best Digital Bank in the Arab services and offering its cus- markets and asset management.” and global financial services firms financial sector for businesses in Qa- continue to work together to contrib- Gulf Region” at the award tomers the best, most seam- Jaida added, “The QFC’s unique tar and corridor markets. Financial ute to its sustainable growth.” ceremony, the bank said in a less banking experience. ecosystem therefore offers the ideal which is of course a client base institutions at the QFC have been ma- The panel was attended by Sheikh statement on Saturday. Among the new features platform for both local and interna- that we are incredibly proud of jor contributors to the development Hamad al Thani, Senior Vice Presi- The event organised by the offered by the latest update tional firms to thrive in these areas, QFC CEO Yousuf Mohamed al Jaida of this sector on a national level, and dent, Treasury and Investment, Qatar Union of Arab Banks (UAB) of QNB Mobile Banking app and make a valuable contribution to we are proud to say that we have 54 fi- Insurance Company; Wim de Waele, and the Arab Information and are the Cash@Speed service, their businesses and the growth of the nancial institutions with 843 employ- CEO, B-Hive Europe; Song Weiwei, Communication Technologies which allows customers to national economy. The QFC is home “The discussions focused on a ees currently registered at the QFC. Deputy GM of Corporate Finance De- Organisation (AICTO), was make instant cash advances to over 90 local and global financial range of relevant topics which un- “We believe that this sector pro- partment, Bank of China Qatar; Ak- attended by numerous diplo- and make interactive branch services firms which is of course a cli- doubtedly play an important role in vides ample opportunity for growth, bar Khan, Alrayan Investment; Fahad matic, economic, and media appointment bookings; the ent base that we are incredibly proud further enhancing this critical sector. particularly within our areas of focus Syed Haque, Private Equity Funds figures, in addition to many mobile cash service, which al- of.” The Fast, Forward event series is a which include asset management, Investment Department, Qatar In- prestigious and active figures lows customers to send cash to Raed al Emadi, Chief Commercial perfect example of the steadfast com- Islamic finance, fintech, and capital vestment Authority; Manuel Leanza, in the banking and technology any mobile number in Qatar Officer at QFC Authority, said, “This mitment of the QFC to be in business markets.

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