Doha: Qatar Islamic Bank (QIB) has received the ‘Product Innovation Award’ under the Islamic Finance category from the Global Finance Magazine for the bank’s efforts in introducing innovative Shariah-compliant products, including long-term deposits with flexible profit payment options. The long-term deposits with flexible profit payment options and higher expected yields allow customers to choose how they want to receive the profit on their deposit “ upfront profit payment, monthly, quarterly, or at maturity. “Over the past few years, QIB has been investing in evolving the bank’s products and services to meet the growing needs of all customers. The bank is improving the banking experience it offers, having completed the installation of a brand new core banking system last year and embarking on a new journey to further simplify and digitalise its services,” said QIB Group CEO Bassel Gamal. The Global Finance Magazine, headquartered in New York, is a reputable source for developments in the financial industry.
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