Reportedly, with this new project, QIB
will be among the first large financial institutions to move their self-service network to the Windows 7 platform.
Group CEO Bassel Gamal said: "The launch of Shir Funds marks yet another milestone in our growth, and the result of a fruitful collaboration with QInvest.
Nasser Marafih, CEO, Qtel Group, said: "QIB
has done a great job in offering Qtel attractive terms, and this deal further strengthens the relationship between Qtel and QIB
recently received an 'A' rating (indicating a 'stable outlook') for its long-term Issuer Default Rating (IDR) ratings agency Fitch.
Ahsan was behind a recent transaction which saw QIB
(UK) teaming with Barclays Ventures to invest in UK cosmetic manufacturer B3 International, which was seeking fresh capital to cope with a bigger than expected order book.
The sale to QIB
coincides with and supports the launch of a GFH rights issue designed to raise between $200-$300m of new capital which will conclude tomorrow.
and Salam Bounian have signed a QR 206 million Musharaka agreement through which the Bank will finance the developer's Jumana Tower at The Pearl.
The purchase price for the QIB
shares will be determined pursuant to a formula that calculates the value of QIB
based on QIB
's audited financial statements for the year ended December 31, 2005.
letter collection and use has been a manual, inconsistent and often redundant information-recording process prone to high error rates, risk and cost.
The Commerzbank award, which was handed over at the QIB
head office (pictured), recognises QIB
's state-of-the-art, in-house funds transfer architecture and reflects the bank's consistently high SWIFT payment standards.
The financing deals are designed to offer QIB
customers additional choice and competitive financing when purchasing a new car during Ramadan.
In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance equity shares shall be added to the net QIB