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Mr. Salah Al Jaidah, CEO of Qatar Islamic Bank confirmed that the new Identity has been derived from QIB's vision as a leading universal Islamic bank, adhering to the precepts of Islamic Shari'a and high ethical virtues, applying the international banking standards, taking part in the development of the international economy and having its share in fulfilling the needs of the Qatari society.

Mr. Al Jaidah, who made this statement in a press conference held yesterday evening on the occasion of launching the bank's new logo, said that the new logo reflects the vision and vocation of a pioneering bank that endeavours to offer innovative Shari'a compatible financial solutions, and Islamic services of quality, in addition to maximising investment returns to shareholders and partners.

"Our new Identity reveals the concepts of universalism, transparency and reliability as being the expression of our values as an Islamic bank believing in the global aspect of its vocation which is derived from the global character of Islam. It reveals also the principles of transparency and reliability because we care about building honest relations with our customers and partners in all our banking and investment activities, inland and abroad" he continued.

Mr. Al Jaidah confirmed that the new Identity reflects as well the bank's unshakable commitment to ensure a distinguishing work environment to its staff with both its technical and human folds, based on the values of honesty, transparency, justice, cooperation, team work, devotion, commitment and distinction.

Strategically, the new Identity is expressive of features that would govern the bank's operations in the coming stage, with the aim to achieve the following:

• Perform a well-founded expansion of the bank's international activities through a rational increase of our market share to become the main source of innovative Islamic financial solutions in Qatar, the Gulf.

• Adopt a methodology of high quality in offering our services.

• To become a leading national establishment in promoting its staff skills to achieve the bank's strategic plans and increase its workforce of national elements.

He further stated that the new Identity derives its strength from the basic factors that constitute, altogether, the environment in which the bank is acting. Those factors are:

• Islamic banking history in Qatar

• The large change witnessed in the country and in particular in the financial and economic sectors,

• The advantages and incentives offered by a national liberal investment environment,

• Soundness of the local banking sector accompanied with Qatar becoming an attractive centre for international investments

• The positive changes in the banking international industry, with an average growth rate of 15-20% p.a., and finally,

The sizeable investments of the country's capitals abroad, through large companies (e.g. oil & gas companies, 'Diar' Co. and 'Barwa' Co.).

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