DOHA: Al Yusr Islamic Banking Service of the International Bank of Qatar (IBQ ) has expanded its network with the opening of a new dedicated retail panch in the Al Rayyan.

The opening ceremony recently was attended by dignitaries, including Ipahim Dabdoub, Vice-Chairman of the Board of IBQ and Group CEO of NBK, and other members of the Board. The new panch, located on Al Shafi Street in Al Rayyan, will offer the full range of Islamic banking services available. These include current, savings and term deposit accounts, consumer and personal finance solutions, in addition to Elite and private banking services.

Al Yusr Islamic Banking Service already offers eight products in the retail segment with more products planned for launch in 2010, including credit card solutions and online banking services.

"Following the remarkable success of the launch of our Islamic banking service last year, we are delighted to further strengthen the Al Yusr network," said Nasra, IBQ Managing Director. "The panch network expansion is part of our ongoing commitment to enhance the range and quality of our Islamic offering and to facilitate accessibility for our clients."

try{document.write(_banner_zone('zone9339')); }catch(e){} "Indeed, Qatar and the wider GCC region continue to be the epicentre for Islamic finance, driving much of the demand for Islamic banking services. We are confident that our product strategy strongly positions us to not only meet these demands, but also lead innovation and further sophistication of Islamic banking in the Middle East."

Hassan Al Mullah, Head of Islamic Banking said that the retail division of Al Yusr Islamic Banking Service has been witnessing strong growth ever since it commenced operations in May 2009. "The past year has been especially significant for us, having launched four new products in the final quarter, a period which also saw customer base double. The new panch at Al Rayyan is ideally located to serve this fast growing business and residential hub of Doha, while providing easier access and a range of specialised services for its existing customers," he said.

The new Al Yusr panch in Al Rayyan offers customers a host of facilities, including an ATM for cash withdrawal and deposit 24 hours a day. Opening hours are 7:30am to 1pm, Sunday through Thursday, and 5:30pm to 7:30pm, Sunday and Wednesday.

© The peninsula 2010