Qatar International Islamic Bank (QIIB) Review - Halal Finance Products

QIIB's fixed deposit with a fully published rate ladder: 2.25% (1 month), 2.75% (3 months), 3.00% (6 months), 3.25% (1 year), 3.50% (18 months), 3.75% (2 years) and 4.00% (3 years) in QAR, with USD rates from 2.00% to 3.50%. Minimum age 18, opened in-branch with an original QID, available in QAR or USD with detailed monthly statements. The rates page also confirms that no profit is paid on foreign-currency savings accounts, and QIIB (unlike QIB) beats its own savings rate handily from the very first one-month tenor.

A first-of-its-kind account in Qatar that pays your savings return in Qatar Airways Avios instead of cash: collect Avios equal to 10% of your annual savings calculated on the daily average balance (QAR 100,000 held all year earns 10,000 Avios), credited daily to your Privilege Club account. New QIIB customers who transfer their salary get a 50,000 Avios welcome bonus; existing customers get 10,000 (first 1,000 customers). Salary transfer to QIIB is mandatory, a valid Privilege Club membership is required before opening, and deposits and withdrawals are unrestricted. No cash profit rate is stated for this account.

QIIB's prize-linked savings account: two semi-annual grand prizes of QAR 1,000,000 each plus twelve monthly prizes of QAR 100,000, with one draw entry per QAR 10,000 of minimum balance and a QAR 10,000 floor to qualify. Entries are calculated on the minimum balance held during the prize period, so dips cost you tickets. The account pays a published 0.15% quarterly profit and allows deposits and withdrawals at any time. QIIB publishes the full draw calendar (monthly draws on roughly the 5th-9th; semi-annual millionaire draws in July and January), an unusual level of draw transparency.

A straightforward Mudaraba-family savings account in Qatari Riyal with quarterly profit distribution and a published annual profit rate of 0.50%, one of the few Gulf banks to put its savings rate in writing. Detailed monthly statements are included, the minimum age is 18, and opening requires a branch visit with an original QID. No profit is paid on savings held in foreign currencies. The published rate is honest but thin: QIIB's own term deposits pay 2.25% at just one month, so this account is for parking, not growing, money.

QIIB's everyday transaction account, available in Qatari Riyal or other major currencies, with a free debit card, detailed monthly statements and a cheque book (issued against a salary certificate). Opening requires an in-person branch visit with an original QID; the minimum age is 18 for Qataris and 21 for expatriates. QIIB publishes distinct documentation rules for GCC nationals, who may open accounts as non-residents under enhanced due diligence with proof of Qatari business ties. There is no online account opening for this product, a notable gap against QIB's instant in-app onboarding.

QIIB finances up to 80% of a property's value for terms up to 360 months (30 years), covering purchase of completed properties, construction projects and renovation, for both private residences and investment property. Distinctively, QIIB accepts monthly salaries and/or rental income as qualifying income, opening the product to landlords, and offers a flexible grace period. Minimum age is 18 for Qataris and 21 for expatriates; applications are in-branch with a QID and salary certificate, and buyouts from other banks need a liability letter plus six months of statements. Profit rates are not published, described only as competitive.

Vehicle financing with published segment pricing, the only Qatari Islamic bank to do so: 5.60% (Wajaha customers, QAR 50,000+ salaries), 5.70% (Deyafa, QAR 35,000+), 5.75% (World) and 5.85% (other segments), all fixed for the term. QIIB even publishes worked examples: every QAR 100,000 financed costs QAR 1,748/month over 72 months for Qataris or QAR 2,435/month over 48 months for expatriates. Expats face a mandatory vehicle mortgage and 40% down payment; comprehensive insurance at 2.4% applies to new vehicles only, and used vehicles must be under 5 years old. Grace periods run 6 months for Qataris, 3 for expats.

A discounted financing rate of 4.6% APR for new electric and hybrid vehicles, roughly a full percentage point below QIIB's standard 5.60-5.85% vehicle finance rates. The product inherits regular vehicle-financing terms and conditions (grace periods of 6 months for Qataris and 3 for expats, segment eligibility) and is open both to existing QIIB customers and to non-customers who transfer their salaries to the bank. As of the crawl date it is one of very few published green-discount Islamic auto products in the Gulf, and it aligns with QIIB's Sustainable Fitch-verified QAR 2.85 billion eligible-finance sustainability framework.

Unsecured personal financing with fully published fixed rates by customer segment: 5.60% for Wajaha (QAR 50,000+ salaries), 5.70% for Deyafa (QAR 35,000+), 5.75% for World and 5.85% for all other segments, fixed for the entire finance period. Grace periods run 6 months for Qataris and 3 months for expatriates from the financing start. First-time applicants need a QID and a salary certificate addressed to QIIB; customers transferring liabilities from other banks add a liability letter and six months of signed, stamped statements. Maximum amounts, DBR caps and tenors are not published on the page, unlike the rates.

Mazaya is QIIB's flagship SME product: unsecured business financing up to QAR 500,000 with repayment to 5 years and a 3-month grace period, underwritten on account cash flow instead of collateral. Funding is capped at 20% of the client's total deposits over the year or QAR 500,000, whichever is less, with the average monthly balance needing to cover at least 200% of the instalment; a clean Qatar Credit Bureau report with no unpaid cheques for 12 months is required, and audited financials can unlock exceptions above the standard limits. It sits inside QIIB's broader SME banking desk, which serves businesses with turnover up to QAR 100 million through dedicated relationship managers, Shariah-compliant accounts, Takaful plans and the corporate finance shelf (murabaha, musawamah, istisna, ijara, mudaraba).