Established in 1989, Al Jazeera Finance pioneered the introduction of Islamic financing in the State of Qatar. Since then, the Company has grown and developed to become a market leader, recognised for its innovative solutions and customer-oriented services, and its commitment to sound corporate governance and corporate social responsibility.
Licensed by the Central Bank of Qatar as a regulated Islamic finance company, Al Jazeera’s shareholding base comprises prominent financial and government institutions. These include Qatar Islamic Bank, Qatar Awqaf Authority, Qatar National Bank Al-Islami, General Authority for Minors’ Affairs, and Qatar Insurance Company. Al Jazeera Finance provides a comprehensive range of innovative and personalised Sharia-compliant financing solutions for Qatari nationals and expatriates in the areas of consumer and corporate finance. These are designed to improve the quality of life for retail customers, and to support the business growth of corporate clients, in particular small-to-medium-enterprises (SMEs).
The Company has achieved consistent year-on-year growth since commencing operations in 1990. At the end of 2008, total assets stood at QR 2.44 billion, up 94 per cent on 2007. Total sales for 2008 reached QR 2.73 billion, an increase of 61 per cent over the previous year, while net income rose by 78 per cent to QR 100.52 million. The recent increase in share capital to QR 500 million illustrates the shareholders’ confidence in the Company’s ambitious growth plans, and will enable Al Jazeera Finance to continue its enduring contribution to the social and economic development of the State of Qatar.
