With an increase of Qatari interest in Britain, QIB-UK, a wholly owned subsidiary of QIB Group, has said it is working closely with its parent company to develop solutions that suit the financial requirements of its customers.
Using the QIB-UK debit card, customers seeking to explore Britain for tourism, education, or investment opportunities can enjoy several benefits, including access to all ATM machines in the UK 24/7 and a high limit on spending, up to £15,000 daily, including £3,000 in cash withdrawals, according to a press statement.
The debit card is in the local currency GBP, allowing QIB customers to access and use their money without paying foreign exchange charges or any other Visa fees on international purchases and cash withdrawals.
“Through its private banking relationship management team, with the support of product specialists in real estate finance, and treasury, the bank delivers tailor-made solutions that address the financial needs of its customers, whether they are based in the UK full-time or are there for a visit,” the statement noted.
QIB-UK multi-currency current, savings, notice and Wakala deposit accounts offer “competitive rates” and are all Shariah-compliant.
In addition, QIB-UK offers its clients the option of depositing their Qatari riyals in cash.
QIB-UK recently received official licensing to directly provide Shariah-compliant Murabaha Facilities for London properties, which are intended for own use.
This new product enables QIB-UK to finance a buy-to-live property as well as refinance customers’ existing properties in London.
The new licence that the bank has gained is coupled with an existing experienced property search service that puts the customer’s best interest first.
QIB-UK’s in-house property specialists, who have a long experience in the London property market and an in-depth knowledge of the current market trends, will be dedicated to support customers finding the right property quickly and conveniently.
QIB-UK’s residential investment financing product has been designed to offer tailored financing solutions to astute clients who deserve distinguished customer care, competitive pricing and security of execution.
In addition, the bank offers a full suite of Shariah-compliant structured commercial real estate financing products including investment, residential development and mezzanine financing to clients.
Duncan Steele-Bodger, CEO of QIB-UK, said: “Our range of Shariah-compliant products and services, delivered by a team of experts, was created to enhance our clients’ banking experience in the UK.”
QIB-UK is located in the heart of London’s affluent Mayfair district, at 43 Grosvenor Street.