* QIB’s digital accounts and integrated domestic worker point-of-sale services for businesses and SMEs ranked among the best innovations in Islamic finance this year
Qatar Islamic Bank (QIB) has once again been crowned for revolutionizing the banking industry in Qatar and the global Islamic banking industry with the introduction of innovative digital banking solutions for individuals and businesses. The Bank received two prestigious accolades at the 2021 Innovators Awards from Global Finance, the digital accounts of domestic workers from QIB and the integrated point-of-sale services for enterprises and SMEs which won “ Outstanding Innovations in Islamic Finance ”.
In its ninth annual selection for The Innovators – the unique recognition program that honors entities that regularly identify new avenues and design new tools in finance – Global Finance Magazine recognized QIB’s digital solutions as some of the most innovative in the world. of Islamic finance in 2021.
Commenting on this recognition, Mr. Bassel Gamal, CEO of QIB Group said: âWe are proud to be recognized among the top innovators in the banking industry for the second year, with two of our recently launched digital solutions winning outstanding innovations in Islamic finance by the world-renowned media entity, Global Finance.
Mr. Bassel added: âQIB is now synonymous with digital innovation in Qatar, the region and the world. We are proud to continue to build on our repertoire of digital innovation and to be market leaders when it comes to delivering the best, most convenient and reliable digital banking solutions for our retail customers and companies.
QIB is the first and only bank in Qatar to offer domestic workers a fully digital end-to-end solution for opening their own bank accounts, directly through QIB’s award-winning mobile app. Launched in 2020 as part of QIB’s efforts to support digital and financial inclusion in Qatar, the Domestic Workers Digital Account is an integration solution that has so far enabled domestic workers in Qatar for the first time to ” open a bank account remotely, in just a few minutes. and no fees, card issuance fees or minimum balance requirement.
This innovative solution also enabled domestic workers in Qatar to enjoy all the benefits associated with owning a QIB bank account, including a free debit card, full control of their accounts and cards through the app. mobile QIB, and the ability to perform local and international operations. transfers in a few clicks, from anywhere in the world and 24 hours a day via the App.
In early 2021, QIB launched the first fully integrated postal delivery point of sale (PoS) in collaboration with Qatar Post. Using the new state-of-the-art PoS devices provided by QIB, the integration of postal delivery services has enabled Qatar Post customers to make cashless payments on delivery when receiving parcels and other mail items. , and has since become a very practical and safe tool. payment method for all Qatar Post customers. The smart PoS also allows Qatar Post’s delivery agents to know precisely the exact customer details for each delivery, including the total amount to be collected, by simply scanning the item using the PoS, which has been fully integrated. Qatar Post’s back-end tracking system. .
The Bank has also partnered with Vodafone Qatar – the country’s leading telecommunications operator – to make the telecommunications operator’s electronic recharge and bill payment services available through QIB’s PoS machines available to all merchants across the country. Qatar.
Both solutions, provided to both Qatar Post and Vodafone Qatar, reduced the margin of error when processing payments and offered merchants additional efficiency when collecting and receiving payments, by more convenience and security for customers when paying for these services.
Based in New York with offices around the world, Global Finance’s audience includes senior corporate and financial executives responsible for making investment and strategic decisions at multinational companies and financial institutions. The magazine regularly selects the best performing banks and other financial service providers, and its awards programs have become a trusted standard of excellence within the global financial community.