Qatar Islamic Bank (QIB) Review (2026): Accounts, Finance and Cards Assessed

Qatar Islamic Bank (QIB) is the country's first Islamic bank, established by Decree No. 45 of 1982, and by a wide margin its largest: QAR 221.1 billion in total assets, QAR 138.5 billion in financing and QAR 142.7 billion in deposits for 2025, with net profit of QAR 4.835 billion. Moody's rates it A1, Fitch A and Capital Intelligence AA-. It opens accounts in-app, runs the QAR 26 million Misk prize draw, charges no processing fees on personal or vehicle finance, and lets you postpone three instalments. What it does not do is publish a single profit rate for a deposit or a financing product. This review assesses the bank on that trade: scale and convenience against disclosure. For the full market, see our Islamic bank accounts hub.

History, ownership and what QIB owns

QIB's about page gives a dated chronology: the application to establish the bank in 1980, Decree No. 45 in 1982 establishing it as Qatar's first Islamic financial institution, first operations in 1983 from Electricity Street in Msheireb, and the move to the Grand Hamad Street head office in 1993. Its shares trade on the Qatar Stock Exchange. The chairman is Sheikh Jassim bin Hamad bin Jassim bin Jaber Al Thani and the group chief executive is Bassel Gamal. Our QIB provider profile calls it the reference institution of Qatari Islamic banking, and the numbers below are why.

The group is wider than one bank. QIB owns 99.7% of QIB UK in London, 99.99% of Arab Finance House in Beirut, and a fully owned branch in Sudan opened in 2013. It holds 49% of QInvest, the QFC-licensed investment bank, 30% of Al Jazeera Finance, 49% of Aqar real estate and 25% of Bawabat Al Shamal, the company that developed Doha Festival City. It is also an 18.75% founding shareholder of Beema, the takaful operator, whose chairman is QIB's chairman and whose board includes two QIB general managers; when QIB places takaful on your car or home finance, that connection is worth knowing.

The investor page adds a USD 5 billion sukuk programme listed on the Irish Stock Exchange with a Central Bank of Ireland approved base prospectus. Fitch's negative outlook is the one soft spot on an otherwise strong ratings table; the page does not explain it, so read the agency's commentary if it matters to you.

Accounts and deposits: Misk, Tamayuz and the rates QIB keeps to itself

The Misk Account is QIB's flagship retail product and the largest prize savings scheme in the country: a QAR 26 million annual pool, twelve QAR 1,000,000 prizes drawn two at a time every two months, six monthly prizes of QAR 50,000 and twenty weekly prizes of QAR 10,000, 1,124 winners a year. You need a minimum monthly balance of QAR 10,000, each QAR 10,000 is one entry, the account must be open for a calendar month before weekly and monthly draws and three months before the millionaire draw, and the draw is supervised by a Ministry of Commerce and Industry representative. Profit is paid quarterly on the average balance, there are no monthly fees, withdrawals are unrestricted, minors can hold one, and you can open it in the QIB Mobile App. Our prize savings comparison sets Misk against Al Tijori, Thara'a and Joud.

What the Misk page does not state is the profit rate. Nor do the savings, deposit or Growing Deposit pages; QIB describes 'competitive profit rates' and 'attractive profit payout' and leaves the number to the branch or the app. That is the pattern across the bank, and our QIB accounts and deposits review documents it product by product. Tamayuz, the affluent tier, requires a salary credit of QAR 50,000 a month, or a start-up and yearly average deposit of QAR 350,000 held for six months, or for the non-salaried a financing eligibility of QAR 3 million with QAR 1.5 million of annual inflows. It brings a relationship manager, six Tamayuz centres (C Ring Road, Salwa, Fanar, QMall, Khor and Rayyan), a 24-hour line on +974 4453 3000, and zero annual card fees in year one on selected cards.

Personal and vehicle finance: zero fees, published caps, no rate

QIB's personal finance page is specific about everything except price. Minimum finance is QAR 15,000. The maximum, including profit, is QAR 2 million for Qataris and QAR 400,000 for residents. The instalment may not exceed 75% of basic salary plus social allowance for Qataris or 50% of total salary for residents, ages run 18 to 65 and 21 to 60 respectively, and the employer must be on QIB's approved list. There are no processing or administrative fees, no guarantor, same-day approval, a three-month grace period for emergencies, Credit Shield takaful against death or permanent disability, and top-ups subject to eligibility. Buyouts from other banks need a liability letter and six months of statements.

Vehicle finance mirrors the caps: QAR 2 million for Qataris with no down payment, QAR 400,000 for residents with 20% down, new or used cars, zero administration charges, no guarantor, fixed instalments, an option to postpone the next three instalments, and Auto Takaful chosen in-app. The FAQ answers the rate question with 'competitive profit rates, which may vary based on the type of car you are buying and the finance plan you have selected'. Our QIB vehicle finance review explains why zero fees and zero published rates can still produce a higher total cost than QIIB's fixed 5.85% card, and how to use the in-app calculator to force the number out.

• Open a current account in the QIB Mobile App, which the vehicle finance flow requires as the settlement account
• Go to More, then Apply for Products, then Vehicle Finance, and upload the dealer quotation addressed to QIB
• Run the finance calculator inside the application and record the total profit figure it shows for your tenure
• Choose Auto Takaful and the down payment account, then share the LPO with the dealer
• Ask the branch or the app for the written repayment schedule, which the personal finance FAQ says is emailed after contract

Home finance: QAR 3.5 million for expatriates, priced in the calculator

The home finance calculator disclaimer states a maximum finance of QAR 3.5 million including profit for expatriates and notes that the indicative calculation excludes life takaful, property takaful and other fees. The product page itself describes Shariah-compliant home financing with attractive profit rates and takaful, without a rate. Our QIB home finance review summarises the position as clear rules and a hidden price: the eligibility and document rules are precise, the profit rate is whatever the calculator or the officer produces on the day. Compare it against AlRayan's published QMRO formula before you commit, because the difference over a 20-year term is large.

The 'QIB interest rates' question, answered honestly

People search for QIB interest rates because they want a number. QIB does not charge interest; its financing is written as Shariah-compliant contracts rather than loans, its deposits are profit-sharing, and it calls the return 'profit'. It also does not publish that profit on any retail page we fetched: not for Misk, not for term deposits, not for personal, vehicle or home finance, not for cards. The only places the number appears are the in-app finance calculator, which produces an indicative total, and the contract. The tariff of charges, version dated 9 September 2025, is where fees live: it lists foreign currency mark-ups of 2% on USD and GCC currencies, 2.5% on GBP and EUR and 3% on other currencies, and fees for transfers, cheques and standing orders. Card annual fees and the financing rates are not in it.

That is a deliberate commercial choice, not an oversight, and it is the reason our analysis of whether Qatar's Islamic banks price fairly gives QIB the lowest disclosure score of the four. For a reader, the practical rule is: get the calculator total in writing, ask for the annual profit rate equivalent, and compare it with QIIB's 5.60% to 5.85% card and AlRayan's 6.10% or 5.85% formula. If QIB's number is lower, the zero fees make it the cheapest; if it is higher, the fees were never the point.

Cards, apps and branches

QIB issues Visa Signature, Infinite, Gold and Platinum credit cards, Mastercard credit cards, charge cards, and co-brands with Qatar Airways (Visa Signature) and Marriott Bonvoy (Platinum, Signature and Infinite). Rewards accrue as Absher points, Credit Shield takaful covers the balance on death or disability, and the higher tiers carry lounge access, with one card listing 25 airports. Cards can be applied for in-app with a slider to set the limit. Fees and salary floors per card are not on the card pages; ask for the card schedule.

Digitally, QIB is ahead of the market. The QIB Mobile App is described as offering more than 320 features, QIB Lite launched in 2023 for workers, QIB Junior launched in 2025 for children, and the about page records the Temenos core banking implementation in 2016 and the digital transformation launched in 2017. Account opening, Misk, personal finance and vehicle finance can all start in the app with QID scan and a selfie. The personal banking line is +974 4402 0888, 24 hours. The site's locator lists branches and ATMs, but we did not find a published total on the pages fetched, so we do not quote one. Our halal banking guide covers what to look for in an Islamic bank's app and contracts generally.

Where QIB wins and loses against Dukhan, AlRayan and QIIB

Verdict: is the biggest bank the right bank for you?

A salaried resident who values convenience, wants the Misk draws and will take finance only after seeing the calculator total should choose QIB; the app is the best in the market and the fee position on finance is genuinely zero. A borrower who wants a known price before the meeting should quote QIIB or AlRayan first and bring the number to QIB, because QIB will not show its hand unprompted. A saver with a lump sum should not put it in a QIB term deposit without a written rate, since the rivals publish theirs and the gap can be checked in five minutes.

A Qatari national gets the top caps here, QAR 2 million with no down payment on a car and 75% of basic salary as the instalment ceiling, and should still ask for the rate. A high earner on QAR 50,000 or more gets Tamayuz, which is a real service tier with its own centres, and should compare its card and deposit pricing against AlRayan Premier's nil-fee Infinite card. Facts checked against qib.com.qa, qiib.com.qa and alrayan.com on 26 September 2026.

Frequently asked questions

Is Qatar Islamic Bank a government bank?

QIB is a public shareholding company listed on the Qatar Stock Exchange, established by Decree No. 45 of 1982 and regulated by the Qatar Central Bank. Its chairman is Sheikh Jassim bin Hamad bin Jassim bin Jaber Al Thani. The about page does not describe it as state owned; ownership details sit in its annual reports and QSE disclosures rather than on the product pages.

What are QIB's interest rates?

QIB does not charge interest and does not publish its profit rates on any retail page. Financing is priced through the in-app calculator and the contract, and deposit profit is described as competitive without a figure. The tariff of charges dated 9 September 2025 lists fees and foreign currency mark-ups of 2% to 3%, not profit rates. Ask for the calculator total and the annual equivalent in writing.

How does the QIB Misk Account work?

Hold a minimum monthly balance of QAR 10,000 and you enter weekly draws of QAR 10,000 for twenty winners, monthly draws of QAR 50,000 for six winners, and bimonthly draws of QAR 1,000,000 for two winners, a QAR 26 million pool. Each QAR 10,000 is one entry; the millionaire draw requires three months' history. Profit on the average balance is paid quarterly at a rate QIB does not publish.

How much can a resident borrow from QIB?

Residents can take personal or vehicle finance up to QAR 400,000 including profit, with instalments capped at 50% of total salary, ages 21 to 60, at an employer approved by QIB. Vehicle finance needs a 20% down payment. Qataris can borrow up to QAR 2 million with no car down payment and a 75% cap on basic salary plus social allowance. Home finance for expatriates runs to QAR 3.5 million including profit.

Is QIB safe?

QIB is the largest Islamic bank in Qatar with QAR 221.1 billion in assets at end-2025, rated A1 by Moody's with a stable outlook, A by Fitch with a negative outlook and AA- by Capital Intelligence. It is supervised by the Qatar Central Bank. Those are strong credentials; Qatar's formal deposit protection position is a separate question, and our deposit protection explainer covers it.

What is QIB Tamayuz and who qualifies?

Tamayuz is QIB's affluent banking tier. You qualify with a salary credit of QAR 50,000 a month, a start-up and yearly average deposit of QAR 350,000 for six months, or, if non-salaried, financing eligibility of QAR 3 million with QAR 1.5 million of annual inflows. It brings a relationship manager, six dedicated centres, a 24-hour line on +974 4453 3000 and first-year fee waivers on selected cards.