Qatar Islamic Bank (QIB) is the largest Islamic bank in Qatar. QIB was established in 1982 with paid-up capital of QR25 million and opened its first branch in 1983 as Qatar’s first Islamic financial institution. Since it is an Islamic financial Institution, all products and services offered by the bank are supervised by a Sharia Board. The Sharia Board ensures that the bank adheres to Islamic banking principles. For instance, Islamic banking rules forbid usurious lending (i.e., charging interest on loans).
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