QATAR ISLAMIC BANK

Restructuring Qatar Islamic Bank

Restructuring Qatar Islamic Bank

Introduction

Islamic Bank of Qatar (TRC), one of the top five largest Islamic banks in the world, managed to increase the number of shareholders in a subsidiary of Al-Jazeera Islamic Company (AJIC). This was achieved through the successful completion of strategic partnership shares AJIC. TRC offered six million shares for potential investors to QR65 per share including premium of QR55 per share, which delivered QR330million profits. Qatar Central Bank has approved a list of shareholders and also granted consent to the restructuring of AJIC as regulated financial services company.

Islamic Bank of Qatar (TRC), the Islamic Bank for global growth was established in 1982 to provide banking services in accordance with the provisions of Islamic Sharia law in accordance with ANS regulation of Qatar Central Bank (QCB). TRC has been the leading Islamic banking industry for over 25 years, aggressively extend its presence in Qatar in the Persian Gulf, the Middle East, Asia, Europe and North Africa. TRC is against the size of the organization and plays an important role in the development and expansion of the business cycle in the State of Qatar. Started with one branch in July 1983 and expanded to eight branches by 2005, the largest increase in branches was conducted during the past five years, with 26 branches and thus expands to 32 branches in 2010.

Background

The year 2009 was one of the most difficult years of the world economy has never seen since the Great Recession of 1929, due to the global financial crisis, which was created as a result of the mortgage crisis, property in the U.S. and some European countries, which in turn led to the bankruptcy leading financial institutions, despite the intervention of central banks to rescue them. The crisis that finally led to a 0.8% decline in world economic growth in the autumn of 2009 from 2.5% in 2008. The world economy began to show encouraging signs of recovery thanks to a wide range of remedial measures that were adopted in 2009. The International Monetary Fund (IMF) 3,9% and 4,3% growth in 2010 and 2011 respectively, mainly from Eastern and developing countries. The IMF confirmed that the output of the global financial crisis occurs at a faster pace than expected. All of the regional economy has successfully surpassed the critical phase of the crisis. Of the IMF reports that the GCC economies are expected to reach ...