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Barwa Bank recognised as the fastest growing bank in Qatar at Banker Middle East Industry Awards 2012

Barwa Bank recognised as the fastest growing bank in Qatar at Banker Middle East Industry Awards 2012

Doha, June 16, 2012– Barwa Bank Group, Qatar's fastest growing Shari’ah compliant banking service provider, has been named the winner of Banker Middle East Industry Awards 2012 for both “Fastest Growing Bank in Qatar” as well as “Best Institutional Integration Award.”

The annual Banker Middle East Industry Awards were established by CPI Financial in 1999 and sets the benchmark for successful banking and financial institutions in the MENA region. Winning these two prestigious awards is a major accomplishment for Barwa Bank which was established in 2008 and has grown significantly since then. Mr. Steve Troop, CEO, Barwa Bank commented, “Winning the Fastest Growing Bank in Qatar and Best Institutional Integration awards is a notable achievement and this distinction will definitely add more momentum to the further expansion of our activities and enable more clients to enjoy Barwa Bank’s high quality products and services tailored to specific customer groups."

Barwa Bank was recognised as the Fastest Growing Bank in Qatar by Banker Middle East Industry Awards for its unrivalled expansion; growing to encompass six branches in Qatar, as well as integrating three other companies - First Investor, First Finance and First Leasing - in less than four years of operation. Barwa Bank came as the second fastest growing bank in the Middle East as well. Barwa Bank also won Best Institutional Integration Award for its successful acquisition of IBQ’s Al-Yusr Islamic retail banking operations in August last year. Under the terms of the agreement, the transaction included the Al-Yusr retail financing and deposit account portfolios, the two Al-Yusr branches located at Al-Sadd and Al-Rayyan and the transfer of Al-Yusr employees to Barwa Bank. Earlier this year Barwa Bank was also named the winner of Banker Middle East Product Awards 2012 for both Best Insurance Product and Best SME Customer Service.

Khalid Al Ahbabi, Head of Wholesale Banking concluded, “We are honoured to be acknowledged by CPI Finance through these Awards : it is testament to our commitment to growth and to building an innovative and customer focused Shari’ah compliant bank that can lead the way in this growing sector.”

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