Since its launch in late 2006, Masraf Al Rayan’s progress and growth has been deliberate, dynamic, diverse... and often newsworthy! On this page you can read some of the key milestones along our way:
April 2008
Masraf Al Rayan announced plans to invest USD1 billion during 2008, buying stakes in companies and investing funds through its investment arm, Al Rayan Investment; with up to five ‘major transactions’ planned in the Gulf region and Asia in telecommunications, real estate, media, and food and beverage sectors.
At their extraordinary general assembly meeting held at the Four Seasons Hotel, the shareholders empowered Masraf Al Rayan’s board of directors to increase the non-Qatari shareholding in the bank to 49% from the existing 31% at a future date.
Masraf Al Rayan posted a net profit of QAR218 million in the first quarter of 2008, up 401% on the same period last year. The bank’s total assets increased to QAR15.30 billion in the first quarter of this year compared with QAR10.55 billion in December 2007, representing a 46% growth.
Q-Money 2008 - one of Qatar’s most significant exhibitions, attracting major banks, financial organisations and investment institutions looking for potential investments, was sponsored by Masraf Al Rayan. The prestigious 4-day event provides a professional platform for participants to introduce their companies and products to an international audience of businessmen and visitors, in an investment-oriented environment.
March 2008
Mr Asad Zafar was appointed CEO of Masraf Al Rayan’s investment banking division, Al Rayan Investment.
Masraf Al Rayan held its Annual General Meeting on the 26th of March 2008 and shareholders approved a 20% dividend for 2007. This was disbursed as a 10% cash bonus and a 10% adjustment against unpaid capital; reducing the amount of unpaid capital owed by investors to 90%.
QAR1.19 billion new profit in 2007 was reported on substantial gains from financing and investing; delivering more than 20% return on average equity and more than 10% on average assets.
February 2008
Adding to its list of prestigious awards, Masraf Al Rayan received the “Best Corporate Account� award at the glittering The Banker Middle East Product Awards 2008 ceremony in Dubai – recognising Masraf
Al Rayan’s ability to meet the needs of its corporate clients in a quick and efficient manner.
The opening of Masraf Al Rayan’s third branch at Al Salam Street in the Al Rayyan area, demonstrated the bank’s aggressive expansion plan for Qatar and the region. Introducing the first exclusive ladies’ section, the Al Rayyan branch incorporates the complete range of banking services and products in an atmosphere of comfort and sophistication, and allows ladies to conduct their personal or corporate banking in exceptional surroundings.
January 2008
Masraf Al Rayan participated in the Qatar MEED Conference 2008, an event which brings together regional and international decision makers to discuss industry trends and present business opportunities. The conference discussed Qatar’s future plans and projects as well as Qatar’s economy – an unprecedented story of growth.
Masraf Al Rayan signed an exclusive sponsorship agreement with Qatar Olympic Committee (QOC) to support 2008 Schools Olympics Day, the first tournament of its kind in the world. The annual 8-event tournament aims to raise awareness of sporting ethics amongst students; promoting the notion that sport is not about winning but is a chance to develop life skills, learn the benefits of teamwork and, at the same time, lead a healthy lifestyle.
Qatar Charity’s Spring Family Forum (Bahr wa Sama), sponsored by Masraf Al Rayan, saw 200 schoolgirls from Qatar, Kuwait, Bahrain and UAE come together for a 4-day event at Sealine Beach Resort. Supported by series of workshops, brainstorming sessions and team-building exercises, participants debated on a number of crucial issues affecting women.
Posting a net profit of QAR1.19 billion in 2007, its first year of operations, Masraf Al Rayan’s board of directors proposed a 10% cash dividend of both paid and unpaid share capital to the bank’s shareholders.
January 2008
Adding to its list of prestigious awards, Masraf Al Rayan received the “Best Corporate Account�? award at the glittering The Banker Middle East Product Awards 2008 ceremony in Dubai.
Masraf Al Rayan announced its participation in the Qatar MEED Conference 2008, an event which brings together regional and international decision makers to discuss industry trends and present business opportunities
December 2007
Along with 1400 delegates from 35 countries, Masraf Al Rayan proudly participated in the World Islamic Banking Conference in Bahrain
Masraf Al Rayan became the first Qatari bank to earn the accolade “Best New Islamic Bank�? from the region’s most prestigious financial publication, Islamic Business and Finance at its 2007 award ceremony
November 2007
An invitation to address the prestigious 2nd World Islamic Infrastructure Finance Conference (WIIFC) in Doha was a further indication of Masraf Al Rayan’s position as one of the region’s leading Shari’ah compliant banks. The 2-day conference, which has quickly established itself as the leading international gathering focusing on the Islamic finance project infrastructure market, attracted 250 senior executives from the world of Islamic finance and banking in the Middle East, North America, Europe and Asia
The 2007 Qatar Career Fair at Qatar International Exhibition Centre was the ideal forum for Masraf Al Rayan to meet and recruit talented, career-minded Qatari professionals for a future in banking
Qatar’s national newspaper, Al Raya, published two articles outlining Masraf Al Rayan’s efforts to attract young Qatari talent to its staff
October 2007
Masraf Al Rayan proudly took a stake in a new Saudi consumer finance organisation, Kirnaf Instalment Company, thereby becoming the largest single shareholder. Accordingly, two days later Masraf Al Rayan captured 45% of shares in the stock market and, one week later, announced the approval of Qatar Central Bank to enter into a strategic partnership with Kirnaf Instalment Company with a 20% majority stake of the SAR1.6 billion capital
Masraf Al Rayan announced higher than expected profits for the third quarter of 2007, with a net profit of QAR1.05 billion
September 2007
On the website of Doha Securities Market, Masraf Al Rayan announced the approval of its Board of Directors to increase the percentage of shares available to non-Qataris from 31% to 49%
July 2007
The doors to Masraf Al Rayan’s main branch, on Grand Hamad Street in the heart of Qatar’s financial district, were opened
Our half year results for 2007 were announced – with a phenomenal QAR667 million in net profit. An amazing achievement for a bank established less than a year earlier
Masraf Al Rayan’s entered into Euro 450 million Mudharaba deal for a semi-government body
June 2007
Media coverage of Masraf Al Rayan’s activities continued to grow and national newspaper Al Sharq published an article entitled “Masraf Al Rayan has fastest growing profits of all banks in Qatar�?
Later in the same month, a second article was published in Al Sharq proclaiming Masraf Al Rayan to be “a pioneer in the Qatar stock market�?
The Lusail Waterfront Real Estate Company was established with an ownership of 75% for Masraf Al Rayan and 25% for Qatari Diar, to develop the infrastructure of the Lusail Corniche section of the Lusail waterfront in Qatar
At the same time, the Lusail Waterfront Investment Company was established by Masraf Al Rayan in the Cayman Islands to allow participation of investors from Qatar and the GCC
Masraf Al Rayan launched a USD100 million fund for the Lusail waterfront, which was successfully closed.
May 2007
Masraf Al Rayan signed a QAR1.93 billion Mudharaba deal with Barwa Real Estate Company to finance its expansion programme in Qatar and abroad, including the recent purchase of a convention centre in Paris, France
Masraf Al Rayan was invited to address the prestigious 3rd Annual World Islamic Funds & Capital Markets Conference in Bahrain, a two day event that attracted key figures from the Islamic finance and banking industry.
April 2007
Masraf Al Rayan obtained permission for a subsidiary, Al Rayan Investment; the first Islamic financial institution to be issued a licence to operate within the Qatar Financial Centre. Wholly owned by Masraf Al Rayan and with a starting capital of USD100 million, Al Rayan Investment’s focus is on real estate investment, private equity and wealth management for institutions and individuals within the GCC and Asia
In a further indication of its rapid development, Masraf Al Rayan – along with a group of Qatar-based banks – concluded a deal with Al Waab City for USD225 million in Islamic financing.
March 2007
Just a few months after its initial launch, Masraf Al Rayan recorded a QAR112 million profit for the year ending December, 2006; a major achievement for a bank which only opened its doors in October, 2006
Qatari Diar Real Estate Investment & Development Company and Masraf Al Rayan signed a Memorandum of Understanding for the Lusail Corniche Project – a part of the Lusail waterfront district.
February 2007
Upholding our commitment to setting the standard in Shari’ah compliant banking, Masraf Al Rayan launched another product exclusive to Qatar, the Murajaha; an Islamic profit rate swap, this facility enables companies to hedge against fluctuating profit rates in international markets.
January 2007
Masraf Al Rayan and Barwa Real Estate Company signed a USD200 million Mudharaba deal with the aim of financing real estate projects within the GCC
A Qatar Airways service desk was opened at the Al Sadd branch of Masraf Al Rayan to enhance the range of customer service.
December 2006
Masraf Al Rayan acted as lead manager in the USD200 million Kuwaiti Lagoon City Islamic Musharaka Sukuk.
