Habib Qatar International Exchange (HQIE) which was established in year 1978 is engaged in remittance, currency exchanges and issuance of demand drafts. Presently, it has 5 branches operating in the State of Qatar, one of which is located in the same building as the main office. It is connected to about 40 international correspondents and 4 local banks covering all its key areas of remittance. Presently, Habib Qatar is a 50-50 partnership company owned by Mr. Mohammed Ali S. Al Madeed and Mr. Sultan Ali S. Al Madeed both sons of Mr. Ali Sultan Al Ali Al Madeed.