01/01/14 | International Islamic announces 100% finance to Qataris for MPHC offer

International Islamic bank has announced a scheme for Qataris that will provide them finance up to 100% of the value of the shares they subscribe to in the initial public offering of Mesaieed Petrochemical Holding Company (MPHC).

In all, 12 International Islamic branches across the country will assist Qataris who are interested in subscribing to the Mesaieed Petrochemical Holding Company (MPHC) IPO.

International Islamic Deputy CEO, Mr Jamal Abdullah al-Jamal said Qataris who are interested in subscribing to the first ever share offering (IPO) of Mesaieed Petrochemical Holding Company (MPHC) can visit any of the 12 designated bank branches for best-in-class customer service for which International Islamic has been renowned for.

"Qataris can either avail of the best offer International Islamic provides or seek shares of the Mesaieed Petrochemical Holding Company IPO through cash. We at International Islamic are pleased to participate in the Mesaieed Petrochemical Holding Company (MPHC) IPO and contribute to its success. Especially because it comes on the basis of directives issued by HH the Emir, Sheikh Tamim bin Hamad al-Thani to encourage Qataris to participate in the IPO," Mr Al-Jamal said.

The finance will be provided to Qataris at 0% profit rate. However, there will be a fee for the general feasibility study, which will be QR125 each for Qatari clients, who have their salaries transferred to International Islamic and QR250 for those who do not have salary account with the bank.

He said all arrangements have been made to provide assistance and adequate service to Qataris who will subscribe to the Mesaieed Petrochemical Holding Company IPO. The IPO reflects the keenness of the Government of Qatar to encourage Qataris to invest and save for the long-term and bring about a culture of savings in the country, thereby contributing to Qatar's long-term prosperity. 

Mr Al-Jamal said the following International Islamic branches have been designated to provide assistance and adequate service to Qataris who will subscribe to the Mesaieed Petrochemical Holding Company IPO; Grand Hamad Street, Kahraba, Al Gharaffa, Al Wakra, Salwa Road h, Al Hilal, West Bay, Al Merqab, Al Khertiyat, Al Muntazah, Bin Omran and Barwa Village.

Qataris who wish to avail of the Mesaieed Petrochemical Holding Company IPO can visit any of these branches until January 21  (Sunday through Thursday from 7-30am to 1pm and from 5pm to 8pm (Sunday through Wednesday, except the Grand Hamad Street branch).

Mr Al-Jamal said all the 12 branches have been staffed with trained personnel who have the adequate skills and expertise in handling all IPO-related issues and assist Qataris who are interested in participating in the initial public offering of the Mesaieed Petrochemical Holding Company. This has been done to ensure that the whole process is conducted smoothly and efficiently so that the aspirations of the International Islamic clients can be met.

Qatari customers interested in the Mesaieed Petrochemical Holding Company IPO can either visit any of the bank branches or dial the contact centre at 44840000



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