QIB programme achieves 10.9% returns

The Qatar Islamic Bank (QIB) announced that the first tranche of QIB’s Shariah-compliant structured note program- "HEMAYA"- has achieved a return of 10.09% on invested capital. The QIB (UK) was the first institution to launch a Sharia’a compliant capital protected structured note, in May 2010, QIB said in a statement. Since this first issuance, QIB (UK) has launched six Hemaya structured note tranches raising over US $150 million. Hemaya is a pioneer in the Islamic Finance space, providing investors with a capital guaranteed alternative to direct exposure to equities. QIB was established on 8 July 1982 as a Qatari shareholding company and was listed on the Qatar Exchange in 1997. It provides banking services in accordance with the provisions of Islamic Shari'a and as per the regulations of Qatar Central Bank (QCB). It has established a strong international presence by participating in the establishment of a range of finance houses in the Middle East, Europe and Asia.