In a first-of-its-kind initiative by a local Islamic bank or branch, Doha Islamic’s management, under the supervision of the Shari’a Supervisory Board, collected donations resulting from delayed payment fines imposed on high-net-worth customers, and donated with the same for benevolent ends, in accordance with the agreement concluded with customers, and a measures that reflects the credibility and transparency of Doha Islamic.
It is well known that Doha Islamic, supported by the Shari’a Supervisory Board, is the first Islamic branch in Qatar that transforms the fine of delay into donations, as recommended by the Accounting & Auditing Organization for Islamic Financial Institutions in Bahrain. After obtaining the approval of the concerned authority at Doha Bank, Doha Islamic donated the collected sums to support the Merciful Prophet Campaign carried out by Al Balagh Cultural Society in defense of the compassionate prophet Mohammed.
“Doha Islamic has become a pioneer in modern Islamic banking, and offers the best Islamic products in the market. Doha Islamic was the first bank in Qatar to offer an Islamic credit card with installments as well as the products of Islamic Ijara, Istisnaa, Lease-to-own Ijara, in addition to 70×salary finance which scored a resounding success. Doha Islamic also offers Utility Ijara services, which cover education, medical treatment, hajj, omrah and tourism,” said H.E. Sheikh/ Abdul Rahman Bin Mohamed bin Jabor Al Thani, Doha Bank’s Managing Director & Doha Islamic’s Executive Committee Member.
“Besides, Doha Islamic was the first to offer several kinds of successful finance schemes, which made Doha Islamic a remarkable Islamic branch achieving the best capital profit ratio in the market”, he added.
Sheikh/ Abdul Rahman conveyed his thanks to Al Balagh Cultural Society, its officials, and His Eminence Professor Dr. Ali Muhyeddin Al Quradaghi (Head of the Shari’a Supervisory Board), who expressed his thanks to Doha Bank’s Board of Directors for their significant role in supporting the national economy, and encouraging competition for charitable ends. Dr. Ibrahim Al Ansari, Board member and representative of Al Balagh Cultural Society, conveyed his thanks as well to Doha Bank’s Board of Directors and especially to H.E. Sheikh/ Fahad Bin Muhammad Bin Jabor Al Thani, Chairman, and H.E. Sheikh/ Abdul Rahman Bin Muhammad Bin Jabor Al Thani, Managing director, for their remarkable support.