QNB Al Islami Launches Its First Branch Outside Qatar

ZAWYA: QNB Al Islami, which is fully owned by Qatar National Bank (QNB) announced the launch of its full fledged Islamic branch, in Khartoum, Sudan.

The branch, which will begin operating on Sunday November 16, obtained preliminary authorization to carry out banking operations in Sudan early this year. The branch is located in Al Amarat Area.

The QNB Al Islami team in Sudan comprises of a group of highly trained and qualified individuals with unparalleled experience in the banking sector of Sudan. This will allow customers to benefit from QNB Al Islami's knowledge of the Sudanese market and their expertise.

QNB Al Islami Sudan Branch holds a wholesale banking license and will provide a full range of banking services and products including investment savings, unrestricted deposit account, corporate finance, project finance and trade finance. The branch will also provide Letters of Credit and Letters of Guarantee.

Residents and citizens of Sudan can benefit from the Bank's comprehensive banking services such as money transfer to and from Sudan within 24 hours, Current and Call accounts.

The surging popularity of Islamic banking at all levels and the growth and importance of Sukuk and investment funds has led the Bank to open its first Islamic branch outside Qatar in Sudan. Opening this branch also reinforces the economic and commercial relationship between the two countries.

QNB Al Islami, launched in 2005 as the first Islamic banking established by a conventional bank in Qatar, provides a broad range Shari'a-compliant individual and corporate services in addition to various Shari'a approved financing solutions.