• IBQ recognised for strength of Tier 1 capital

• Underlines strong fundamentals of Qatari banking industry

George Nasra, Managing Director of IBQ

The Banker magazine, part of the Financial Times Group, recently announced that IBQ has been named as one of the “fastest movers” in its global banking survey. In the 39th edition of the “Top 1,000 World Banks 2009” rankings published in the July issue of the magazine, IBQ moved up 192 places, officially leading the chart as the “fastest moving bank in the Middle East.”

IBQ featured in this survey by virtue of its Tier 1 capital and profit before tax, which last year reached a new high for the bank. This is the second consecutive year that IBQ has been recognised for its strong financial fundamentals and robust performance.

The Banker Top 1,000 World Banks ranking charts the world’s banks according to their Tier 1 capital, which is the most relevant measurement of bank strength. The survey also took into consideration other parameters such as asset size, capital assets ratio and profit growth, return on assets, BIS Capital Ratio and non-performing loans to total loans.

“We are honoured to be recognised for our fast-track success in this prestigious survey. Surpassing several leading global institutions, IBQ has scored high for its capital adequacy, reflecting the confidence of our shareholders, customers and investors in our long-term growth and risk policies,” said George Nasra, Managing Director of IBQ. “Further, the strategic support of our partner, National Bank of Kuwait, has been a cornerstone for IBQ’s sustained performance and growth.”

“IBQ’s capital stability has helped cushion the impact of the volatility in global financial conditions. Despite a challenging environment globally, IBQ surged ahead with various new initiatives and upgrades.”

The increase in IBQ’s capital during 2008 resulted in a capital adequacy ratio of 12.15 per cent, which is higher than the Qatar Central Bank minimum requirement of 10 per cent. For the financial year ending December 31, 2008, the Bank posted a net profit of QAR 305 m, representing a growth of 30 per cent from QAR 234 m in 2007. The annual operating profit reached QAR 577 m, up by 76 per cent from QAR 138 m in 2007.

-ends-

Note to Editors:

About The International Bank of Qatar (IBQ): The International Bank of Qatar (IBQ) is a well established and rapidly growing commercial institution, offering a full range of retail, private and corporate banking solutions. IBQ has a strong commitment to build long-lasting relationships with its customers and provide them with excellent customer service with a focus on making banking simple, convenient and tailored to their needs. IBQ is one of the oldest existing banks in Qatar and celebrated its 50th anniversary in 2006. It has a growing network of 9 branches and 30 ATMs in strategic locations throughout Qatar.

IBQ was recently awarded the Best Customer Service Award for 2008 from the Banker Middle Magazine.

IBQ is 30% owned and managed by the National Bank of Kuwait (NBK), the largest bank in Kuwait and the highest rated in the Middle East. IBQ is a growing bank that benefits from an international network as a result of its affiliation with NBK which gives its customers access to greater resources and a wide range of international services.

For further information, please contact:

Hala Kassab

ASDA’A Burson-Marsteller

T: +974 4351 113

F: +974 4351 511

E-mail : h.kassab@asdaa.com

Muna Khogali

International Bank of Qatar

Dir: +974 447 3017

Fax: +974 447 3710