May 2009 IBQ IBQ has officially inaugurated its first Al Yusr Islamic banking branch located on C-Ring Road. An official opening ceremony was held under the patronage of Sheikh Khalifa Bin Jassim Bin Mohammed Al Thani, Chairman, Qatar Chamber of Commerce and Industry. Also in attendance were senior dignitaries from the banking and business community, members of the media and other distinguished guests.

Al Yusr will combine traditional Islamic values with superior modern banking solutions using the latest technology, providing personalized service and care that customers have come to expect from IBQ IBQ .

Al-Yusr's innovative approach to Islamic banking will provide customers a full range of Sharia'a compliant services and products. These will include current, savings and term deposit accounts, debit cards, consumer and personal finance solutions such as Murabaha and Tawarroq, in addition to Corporate banking financing based on Istisna'a, ljara and Murabaha.

At the branch opening ceremony, Mr. George Nasra, Managing Director of IBQ IBQ , said: "We are committed to meet the needs of our customers in this rapidly changing economic and banking environment. Islamic finance is playing a major role in the capital markets and banking arena, both internationally and locally. According to Qatar Central Bank, the country's Islamic banking assets grew by a compound annual growth rate of 54.3% between 2003 and 2008, counting for more than 15% of total banking assets. Consequently, establishing our Al Yusr Islamic banking branch is a major milestone that reaffirms our commitment to this important and growing market sector and reflects our vision, our aspiration and our will to play a key role in the Islamic banking marketplace in Qatar. We will focus on our 50 years' knowledge of the local market and our experience in product innovation to offer our clients a superior banking experience."

The new Al Yusr branch is located on the C-Ring Road opposite the current IBQ IBQ branch. It offers customers a dedicated call centre and ATMs for cash withdrawal and deposit 24 hours a day. Opening hours are 7:30 am to 1pm, Sunday through Thursday, and 5:30pm to 7:30 pm, Sunday and Wednesday.

-Ends- Editors' Notes: The International Bank of Qatar ( IBQ IBQ ) is a well established and rapidly growing commercial institution, offering a full range of retail, private and corporate banking solutions. IBQ IBQ has a strong commitment to build long-lasting relationships with its customers and provide them with excellent customer service with a focus on making banking simple, convenient and tailored to their needs. IBQ IBQ is one of the oldest existing banks in Qatar and celebrated its 50th anniversary in 2006. It has a growing network of 9 branches and 30 ATMs in strategic locations throughout Qatar.

IBQ IBQ was recently awarded the Best Customer Service Award for 2008 from the Banker Middle Magazine.

IBQ IBQ is 30% owned and managed by the National Bank of Kuwait (NBK), the largest bank in Kuwait and the highest rated in the Middle East. IBQ IBQ is a growing bank that benefits from an international network as a result of its affiliation with NBK which gives its customers access to greater resources and a wide range of international services.

For more information, please contact: Karim W. Nakhle Head of Corporate Communications & Business Development International Bank of Qatar Direct +974 447 1287 Fax +974 447 3710 Website : www.ibq.com.qa

© Press Release 2009 omar 1.1:zy