Qatar Islamic Bank Honoured as Premier SME Bank in Qatar

Qatar Islamic Bank has been distinguished as the ‘Best SME Bank’ in Qatar by Global Finance as part of its 2025 GW Platt Foreign Exchange and SME Bank Awards. This accolade underscores QIB’s pivotal role in supporting small and medium-sized enterprises within the nation, contributing significantly to economic diversification, private sector expansion, and financial inclusion.

Global Finance’s annual awards identify financial institutions worldwide that demonstrate exceptional leadership and innovation in catering to the SME sector. QIB’s recognition reflects its commitment to providing tailored financial solutions that address the unique challenges faced by SMEs in Qatar.

In the past year, QIB has introduced a suite of digital banking services aimed at streamlining financial operations for SMEs. Notably, the bank offers an online account opening service, allowing businesses to initiate their banking relationships electronically. Enhancements to the Corporate Mobile App and Corporate Internet Banking platforms have facilitated more efficient transaction management and financial oversight for business clients.

Collaborations have also been central to QIB’s strategy. A partnership with Ooredoo led to the introduction of co-branded corporate credit cards, providing SMEs with flexible payment options and benefits. Additionally, QIB has expanded its payment solutions portfolio by offering Point of Sale machines, an online payment gateway, and the SoftPOS app, enabling businesses to accept payments seamlessly through various channels.

Beyond digital solutions, QIB places emphasis on personalized financial advisory services. The bank offers sector-specific banking solutions, aligning its services with the objectives of Qatar National Vision 2030, which aims to foster a diversified and sustainable economy.

Tarek Fawzi, General Manager of QIB’s Wholesale Banking Group, stated, “Our commitment to support SMEs is a fundamental part of our strategy to drive sustainable growth and economic development. As the SME sector continues to evolve, we remain focused on delivering innovative, Shariah-compliant financial solutions that empower businesses to grow, compete, and succeed.”

QIB’s efforts have not gone unnoticed in the broader financial community. The bank was recently recognized with three awards at The Asset Triple A Digital Awards 2025, including Digital Bank of the Year in Qatar for the fourth consecutive year. These accolades highlight QIB’s dedication to integrating cutting-edge technology into its service offerings, thereby enhancing customer experience and operational efficiency.

Financially, QIB has demonstrated robust performance. The bank reported a 7% increase in net profit, reaching QAR 4.6 billion in 2024. This growth is indicative of QIB’s sound financial management and its ability to adapt to the dynamic economic landscape.