Qatar Islamic Bank reports 55 percent jump in profits
The Qatar Islamic Bank has recently announced figures showing a 55 percent increase in profits between the first half of 1999 and the first half of 2000.
The bank’s profits, reported in Al-Raya newspaper, rose from QR 84 million in the first half of 1999 to QR 131 million in the corresponding period of this year.
The Chairman of the Board of the bank, Khaled Al-Suweidy, stated that this year, the bank’s 18th year of operations has gotten off to a strong start.
The bank, established in July of 1983, is presently working toward boosting its financial status and developing its customer banking and investment services.
Over the first 18 years of existence, the Qatar Islamic Bank raised its capital from QR 50 million to QR 250 million. The current value of its net assets exceeds QR 4 billion. –(Albawaba-MEBG)