CHAIRMAN: DR. KHALID BIN THANI AL THANI
EDITOR-IN-CHIEF: DR. KHALID MUBARAK AL-SHAFI

Business / Qatar Business

QIB participates in Qamco IPO

Published: 30 Oct 2018 - 08:01 am | Last Updated: 07 Nov 2021 - 12:28 am
Peninsula

The Peninsula

DOHA: Qatar Islamic Bank (QIB) has announced its participation in the Initial Public Offering (IPO) of Qatar Aluminum Manufacturing Company (Qamco) from October 30 till November 12. QIB Qatari customers will be able to subscribe through 12 main branches across Qatar with extended working hours to make it easier to subscribe.

QIB is committed to supporting national initiatives undertaken by the government that increase investment awareness and wealth creation. This kind of initiative showcase the healthy economy that Qatar enjoys, which aims at providing opportunities to the entire Qatari community including the next generation.

There will be 12 branches that will be available for customers’ convenience from Sunday through Thursday from 7.30am till 1 pm and will re-open 5pm till 7.30pm; Saturdays from 9am till 12noon. The branches are: Sheikh Abdulla Bin Zaid Al Mahmoud Islamic Cultural Center (Fanar), Gharafa (Q-mall), Salwa Road, Al Sadd & Private Banking Center, Al Rayan, Al Khor, Umm Salal, Airport Road, Al Wakra, Muaither, and C-Ring. Dukhan Branch will be available from Sunday to Thursday from 7.30am until 1pm.

Tamayuz customers can also subscribe through their dedicated centers located at: Sheikh Abdulla Bin Zaid Al Mahmoud Islamic Cultural Center (Fanar), Gharafa (Q-Mall), Salwa Branch, Al Rayan and Al Khor. Ladies customers can enjoy full privacy while subscribing through their dedicated centers located at Salwa Road, Al Sadd, Al Rayan, Umm Slal and Al Khor.

QIB Qatari customers that are interested in a personal subscription will need to fill the IPO subscription form and present their valid QID along with a copy.

If the applicant is applying on behalf of a third-party member other than a minor, the applicant should have an original QID for the third-party member and his own QID alongside a copy of both. In addition, a duly notarised power of attorney valid for use in the state of Qatar evidencing the fact that the person making this application is duly authorised to apply for Offer Shares on behalf of the relevant third party alongside a true and valid copy.

QIB customers can also apply for a finance to subscribe if their salaries are transferred to QIB, the customer needs to cover 35 percent of the subscription amount in addition to the fees, whereas QIB will finance 65 percent of the subscription amount. Customers need to fill out the finance application alongside the shares related forms and provide a cheque with the total finance amount alongside additional copies of QIDs of the applicant and the subscribers.

Finance applications will be accepted from October 30 until November 10, 2018. In case the shares are pledged against the finance, it will take up to 10 working days to release the shares after the finance is settled. The Due date for all IPO financing is February 15, 2019. For more details visit or contact QIB at 44109910.