Qatar's two largest sharia-compliant banks, Qatar Islamic Bank (QIB) and Masraf Al Rayan, reported better than expected increases in second-quarter net profit on Monday.
The results, coming after the profit jump at Qatar Natio
Masraf Al Rayan, Qatar's fourth-biggest lender by market value, saw net profit jump 43 per cent in the third quarter, driven by a rise in its customer base as the lender expands its branch network.
Third-quarter net profit rose to QR30
Qatari lender Masraf Al Rayan on Monday reported an almost five-fold rise in second-quarter net profit, boosted by a strong increase in financing activities and income from commissions and fees.
The three-year old Islamic bank in a stateme
Qatari Islamic lender Masraf Al-Rayan said on Tuesday it plans to invest up to $1 billion this year buying stakes in companies and investing in funds in sectors from telecommunications to real estate.
Masraf expects to complete up to five
Masraf Al Rayan will take a major stake in Kirnaf Instalment Company, a new Saudi consumer finance company established by a consortium of businessmen.
The consortium is led by Sheikh Abdulla Al Romaizan. Other major investors include Al Ab
Al Masraf, the new brand name for Arab Bank for Investment & Foreign Trade was formally unveiled recently to replace the 33-year-old ARBIFT.
The move represents a significant milestone in the bank’s history and further signifies its le
Masraf Al Rayan and Qatari Diar have successfully closed a $100 million Lusail Waterfront Fund.
Masraf Al Rayan established the Lusail Waterfront Investment Company in the Cayman Islands to enable Qatari and other GCC investors to partici