(MENAFN- Gulf Times) Qatar Islamic Bank (QIB) has been named "Best Treasury Products Management" for 2014 under the "Quest for Excellence" category at the Banker Middle East Product Awards.
The Banker Middle East Qatar Product Awards was established in 2005 by CPI Financial, publishers of Banker Middle East, to recognise banking products and services that are innovative and have generated "exceptional" financial results and growth in market share. The awards were based on a peer-vote process.
QIB Treasury had made "major strides" in enhancing liquidity management and integration of the treasury systems with trading platforms, and continues to play a key role in the diversification of funding sources, reducing the bank's cost of funds.
The product structuring desk key initiatives have been implemented by setting up a designated team to work together with QIB's Shariah Supervisory Board to design, implement, and make available innovative hedging and investment solutions that conform to Shariah principles.
This structuring function has allowed QIB to offer "bespoke solutions" to clients across business divisions, as well as satisfying the bank's internal requirements. The new solutions have allowed both QIB and customers to manage risks across different asset classes.
Structured investments are engineered in-house and include short-term structured deposit products, as well as medium/long term structured investment solutions. Furthermore, a comprehensive Shariah-compliant legal framework has been developed for executing a wide range of Shariah-compliant transactions.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.