QIIB is the bank for people who want to see the price before they walk in. Qatar's second-oldest Islamic bank, incorporated under Amiri Decree No. 52 of 1990 and operating since 1991, it is the smallest of the four at QAR 62.6 billion in assets with fiscal 2025 net profit of QAR 1.35 billion, up 7.2%. What it lacks in scale it repays in disclosure: the full term deposit ladder is printed on the product page, the savings rate is printed, the prize account's rate is printed, and the bilingual tariff booklet enumerates every fee down to QAR 0.60 local transfers. We verified all figures on 2026-08-04.
Ready to compare halal options?
Current account: branch-first, tier-driven
QIIB's current account comes in QAR or other major currencies with a free debit card and a cheque book issued against a salary certificate. Opening means a branch visit with an original QID; minimum age is 18 for Qataris and 21 for expatriates, and there is no digital onboarding for this product, a real gap against QIB's in-app opening. Two things make it more interesting than it looks. First, QIIB publishes a documented pathway for GCC nationals to open accounts as non-residents under enhanced due diligence with proof of Qatari business ties, the clearest non-resident route in Qatari retail banking. Second, the tier system: Platinum from QAR 5,000 monthly salary, Deyafa from QAR 35,000, Wajaha from QAR 50,000. Your tier is not just lounge access; it sets the financing rate QIIB publishes for your segment, from 5.60% (Wajaha) to 5.85% (standard). Fees are all in the tariff: dormancy QAR 10 a month below QAR 500, closing within a year QAR 50, returned cheque QAR 400.
Savings account: 0.50%, and honest about it
QIIB pays 0.50% per annum on QAR savings, distributed quarterly, and prints the number on the page, which QIB never does. Foreign-currency savings earn nothing, also printed. There is no monthly fee and liquidity is full. The published rate lets you make the obvious move: do not leave meaningful money here. QIIB's own term ladder starts at 2.25% for one month, so the savings account's only real job is holding your buffer between deposits. That kind of self-defeating honesty is QIIB's brand, and savers should reward it.
Term deposits: the clearest ladder in Qatar
| Tenor | QAR rate | USD rate |
|---|---|---|
| 1 month | 2.25% | 2.00% |
| 3 months | 2.75% | 2.50% |
| 6 months | 3.00% | 2.50% |
| 1 year | 3.25% | 2.27% (apparent typo) |
| 18 months | 3.50% | 3.00% |
| 2 years | 3.75% | 3.50% |
| 3 years | 4.00% | Not offered |
Seven tenors, every rate in print, and a curve that slopes the right way. The comparison with QIB is brutal: QIIB pays 3.25% at one year against QIB's published fixed-deposit ceiling of 1.45%, and its 4.00% at three years approaches QIB's flagship Growing Deposit (4.00% at 5 years) without demanding a locked monthly standing order. The 2.27% USD 1-year figure looks like a typo for 2.75% and is worth confirming in branch; QIIB has not corrected it as of 2026-08-04. What the page does not give you: the profit-sharing ratio, pool mechanics or early-withdrawal formula, and there is no digital booking. For QAR lump sums with a defined horizon, this ladder is the benchmark to compare every other Qatari bank against. See our full term deposit comparison.
Joud: fourteen fat prizes
QIIB's prize account concentrates where QIB's Misk sprays: two semi-annual grand prizes of QAR 1,000,000 and twelve monthly prizes of QAR 100,000, fourteen winners a year against Misk's 1,124. Entry needs a QAR 10,000 minimum balance, with one token per QAR 10,000; entries are computed on the minimum balance during the period, so one bad week resets your tickets. Joud is the more transparent product in its class: the profit rate is published (0.15%) and the full draw calendar is posted a year ahead. At 0.15%, the yield sacrifice against QIIB's own 3.25% one-year deposit is roughly QAR 3,100 per QAR 100,000 per year; that is the real price of your tickets.
Avios: savings paid in airline currency
The Avios Savings Account is unique in Qatar: instead of cash profit, you collect Qatar Airways Avios equal to 10% of your annual savings computed on the daily average balance (QAR 100,000 held all year earns 10,000 Avios), credited daily to your Privilege Club account. New customers who transfer their salary get a 50,000 Avios welcome bonus. Salary transfer and Privilege Club membership are both mandatory, and no cash rate is paid. For redemption-savvy flyers the effective yield can beat QIIB's 0.50% cash savings comfortably, but the return is a bet on a loyalty currency whose value Qatar Airways can devalue unilaterally. We reviewed it fully in the Avios account deep dive.
Fees: the tariff booklet tells all
QIIB's bilingual retail tariff booklet is the most complete fee disclosure in Qatari banking, and it deserves a read before opening anything. The numbers that matter day to day: local transfers from QAR 0.60, an additional 25-leaf cheque book at QAR 15, card FX markups of 2.15% on GCC currencies and USD rising to 3% on other currencies, dormancy at QAR 10 per month below QAR 500, and the market-standard QAR 400 for a returned cheque on insufficient funds. Nothing here is unusual for Qatar; what is unusual is being able to verify every line before you walk in. Salaried customers at QAR 35,000 plus should also ask about Deyafa and Wajaha membership, which is free at qualifying salaries and carries pricing benefits across the bank's financing shelf.
What QIIB does not publish
- Profit-sharing ratios and pool mechanics for deposits, which AlRayan and QIB (on some products) disclose
- Early-withdrawal terms for term deposits
- Deposit minimums for most accounts
- Product-level fatwas, in line with the sector-wide gap
- Any digital account-opening route; every account starts in a branch
Governance
QIIB's Sharia Supervisory Committee comprises Sheikh Dr. Walid Bin Hadi (chairman), Sheikh Abdulaziz Khalifa Al-Qassar and Sheikh Dr. Mohammed Ohmain, the same senior jurists who constitute QIB's board, a concentration that reflects Qatar's small pool of top-tier Fiqh al-Muamalat scholars. QIIB has never run a conventional book, and its corporate pages document each contract type it uses (Murabaha, Musawamah, Mudarabah, Istisna, Ijarah) in unusual public detail for a Gulf bank.
Our verdict
QIIB converts transparency into a competitive weapon. It is the only Qatari bank where a saver can price the entire deposit decision from the website alone, and its 4.00% three-year rate leads the published market for lump sums. The costs are convenience and scale: branch-only onboarding, an app that requires an existing card to register, roughly 16 branches, and a 21-year age floor for expats. The rational play for many households: salary and daily banking at QIB or Dukhan, term money laddered at QIIB. Compare live rates on our bank accounts page.
Frequently asked questions
Does QIIB really pay the best deposit rates in Qatar?
For published lump-sum term deposits, yes: 4.00% at three years and 3.25% at one year lead the disclosed field (verified 2026-08-04). Dukhan's conditional savings accounts (3.00% to 3.25%) compete for money that stays liquid, and QIB's Growing Deposit reaches 4.15% but only via a 10-year locked monthly plan.
Can I open a QIIB account online?
No. Account opening requires a branch visit with an original QID, and the QIIB Mobile app can only be registered with an existing debit or credit card. QIIB is the least digital of Qatar's four Islamic banks at onboarding.
Compare providers in your state
See side-by-side comparisons of Shariah-compliant products, or let our matcher recommend the best options for your situation.
Who should choose QIIB?
Rate-first depositors comfortable with branch banking, GCC nationals needing the documented non-resident pathway, Qatar Airways loyalists using the Avios account, and anyone who wants every fee in a published tariff before signing.