QIB Awarded ISO 27001 Certification for Banking Information Security
Extensive revamping of Information Security Products and Processes done with the help of security specialist Paramount Computer Systems to comply with rigorous ISMS Standard


DOHA, QATAR, June 11, 2010 /24-7PressRelease/ -- Qatar Islamic Bank (QIB), the first and leading Islamic bank in Qatar and ranked amongst the worlds five largest Islamic banks, is pleased to announce that it recently received the prestigious ISO 27001:2005 certification - the world's highest accreditation for information protection and security, from the International Organization for Standardization (ISO). The certification was awarded due to QIB's possession of and compliance with high technical standards of information security, operations and security procedures, especially related to websites and the use of software.

The ISO 27001 is the first certification received by QIB, which places them on par with leading international banks in the space of security and protection for electronic banking and is just the start of an aggressive strategy to carry out technology implementations across the entire information infrastructure.

Mr. Salah Jaidah, CEO, QIB said, "Receiving this ISO certification ensures that the development of QIB's banking techniques and constant upgradation of information technology, which is the backbone of the bank's services and administration, becomes our strategic priority. Throughout the past three years, QIB has implemented state-of-the-art technology upgrades that has transformed the bank's IT platform into one that offers the latest generation of e-banking services, enhanced features, upgraded global networking and high-performance connectivity among branches".

Mr. Hammad Al Zamli, Assistant General Manager, Operations and IT group commented, "The ISO 27001 certification is the result of establishing the Information Systems and Technology Center in 2008, which is equipped with all high-end technical specifications such as operating systems, surveillance systems, security and protection systems. All this provides high performance and capabilities with non-stop, continuous operations".

Mr. Mostafa Essemmar, Manager Security Department, IT Infrastructure, QIB said, "QIB has provided the center with all the necessary equipments to protect the bank's information systems, data base and network, in addition to preventing hackers from attacking and breaching the emails. This was done in collaboration with specialized international companies that operate in this sector. The certification validates the return on investment on the multi layered security architecture invested by the bank and is intended to build QIB customer confidence in using our internet banking portal".

The receiving of the ISO 27001 certification came after a detailed risk assessment conducted by Paramount Computer Systems Doha Qatar, QIB's strategic security partner and consultant. Paramount used several advanced tests including 'hacking procedures' and 'electronic breaching attempts' to ensure that all the bank's systems and procedures relating to information security and data protection were operating at the highest standards and efficiency. It studied the ways employees accessed various sites and systems at the main technology center and the reserve center and developed and enhanced policies and procedures. Following this, the German Certification company TUV did a detailed assessment and auditing of QIB's Information Security Management Systems.

This certification is associated with the usage of information security related to electronic banking. QIB will at a later stage expand this process to cover the entire Information Technology Center.
Mr. Premchand Kurup, CEO Paramount Computer Systems said, "The ISO 27001 certification assures QIB's customers, associates and stakeholders that it now owns very high-end technical systems and an excellent IT environment that provides the highest level of banking information security as well as enhanced banking services especially in the E-banking sector. We are happy and proud to have been consultants to QIB for the ISO certification project and thank the management for their confidence in our services and expertise".

About QIB
Qatar Islamic Bank was established in 1982 and is the first and leading Islamic Bank in Qatar. It holds the distinction of ranking among the world's five largest Islamic banks. QIB has a well co-ordinated correspondent banking network handling 312 accounts in 69 countries. It boasts international investment operations in Asia, the Middle East, and Europe including in Qatar, Lebanon, Malaysia, the United Kingdom, Bahrain and Yemen. It plans to establish banking operations in Turkey, Egypt and the Gulf.
It operates locally through 23 branches, with plans to increase that number to 35 in the next 4 years. It has an ATM network comprising 91 ATMs throughout Qatar.

About Paramount
Founded in 1992, transformed in 1999 and re-invented in 2007, Paramount as a company is "Work in Progress". Paramount is the leading regional provider of Technology and services for securing the Information Assets of Enterprises. From the development of a Security Policy, Security Awareness Training, through to the delivery of complete end-to-end solutions that encompass Perimeter Security, Secure Content Management, Identity and Access Management, Vulnerability Assessment, Risk, Policy and Compliance Management. Paramount helps leading organizations in the Arabian Gulf Region, understand monitor and mitigate the risks in their IT infrastructure.

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