Qatar Islamic Bank (QIB), an Islamic institution in Qatar, has opened a new branch in Doha.

QIB said that the new branch, marking the 27th branch, is part of its plan to reach 35 branches by 2012. The bank is also planning to inaugurate another branch in Al Nassirya area.

QIB acting CEO Ahmad Meshari said that the launch of the Suhaim bin Hamad location represents an important addition to the evolving financial network and is an implementation of QIB’s expansion plan. This plan is to create a comprehensive network of QIB institution in strategic locations across the country.

QIB assistant general manager retail banking Amer Al Jabri said the branch will enhance QIB’s pioneering role to provide Islamic financial services to customers for different sectors, especially clients subscribing to QIB and Al Jazeera Financing which is 30% owned by QIB.