QIIB Wins Trade Finance Excellence Award from Commerzbank-Germany

Doha, October 17 (QNA) - Qatar International Islamic Bank (QIIB) has been awarded the 'Trade Finance Excellence Award 2018' from Commerzbank-Germany, based on the volume and quality of its joint business and the bank's high professionalism in trade, particularly the quality of its letters of credit related transactions. QIIB Deputy CEO Jamal Abdulla Al Jamal said "this award reflects the bank's professional skills and knowledge of ICC/UCP, in its trade finance transactions, to minimize risks for the bank and its trade customers." He expressed his confidence that the close relationship between QIIB and Commerzbank will continue and will be further enhanced as there is a common desire to do so. "We hope that the clients of both the banks will benefit from the relationship, which will lead to the provision of high quality services that serve their needs and aspirations," he added. On his part, Head of Loan Capital Markets in Commerzbank-Germany Frankfurt Andreas Scheer said " We look forward to strengthening our relations with QIIB. We have seen, through our dealings with the Bank that the standards they have adopted in the field of trade finance are in line with the best international standards." He added "We are confident that QIIB and Commerzbank will continue in their partnership so as to enhance cooperation in their various banking operations." The awards ceremony was held at the headquarters of Qatar International Islamic Bank and attended by a number of officials from both banks. QIIB was founded in 1990 as the second Islamic bank in Qatar and is currently the third largest bank in terms of assets and market value. It began operations in 1991 and is listed on the Qatar Exchange. The bank provides comprehensive banking services to its clients through a countrywide network of branches and ATMs. The bank also has diverse regional and international partnerships. Commerzbank is a leading German bank with branches and offices in more than 50 countries, focusing on the German and Polish markets. The bank has about 1100 branches and 90 consulting centers for corporate clients, which is the largest branch network among German private banks. (QNA)