Qatar Islamic Bank expands its Direct Remit Service to the UK

Qatar Islamic Bank (QIB) has announced the expansion of its Direct Remit Service to the United Kingdom. It has successfully launched its Direct Remit Service in Pakistan, Egypt, the Philippines, Jordan, and India.

For the leading digital bank in Qatar, the subsequent strategic move to expand to the UK reflects its commitment to advance and diversify its money transfer services. The latter has been made possible via its collaboration with Standard Chartered Bank; a major bank in the UK and across the world.

Through the QIB Mobile App, customers can now initiate a money transfer with ease. More specifically, the Direct Remit Service will allow for customers to enjoy real-time money transfers to the UK. To send funds to the beneficiary’s bank, all that is needed is to log in to one’s QIB Mobile App, select the destination of the funds, and enter the recipient’s details.

With regard to the move, QIB’s General Manager for Personal Banking Group, Mr. D. Anand stated, “Incorporating the United Kingdom into our Direct Remit services via the QIB Mobile App is a testament to our commitment to delivering a seamless, secure, and efficient banking experience for all our customers. We are dedicated to solidifying our position as a leader in digital banking through continuous innovation and a customer-centric approach.”

QIB’s recent expansion of its Direct Remit Service comes about a month after it released its earnings results for the nine months ending on 30th September 2023. For the aforementioned period, its net profit came in at QAR 3,055 Million. This represents a 7.2% growth from the same period in 2022. At the same time, its total income rose from QAR 6,523 million in the previous year to QAR 8,096 Million; representing a 24.1% growth.