Banking

Well capitalised and supported by one of the world’s wealthiest economies, Qatar’s banking sector has successfully navigated a range of external challenges in recent years. It has emerged from the Covid-19 pandemic in an advantageous position to leverage the resurgence in local and international demand for a variety of financing options. Consisting of commercial, Islamic, investment and development banks, the sector benefits from the country’s onshore Qatar Financial Centre – which is governed by an independent legal and regulatory body – as well as a growing financial technology industry. The banking sector and the economy as a whole are set to benefit from expanding demand for Qatar’s energy exports, which supports government revenue and lending opportunities.

This chapter contains interviews with Abdulla Mubarak Al Khalifa, Group CEO, Qatar National Bank; Abdul Hakeem Mostafawi, CEO, HSBC Qatar; and Joseph Abraham, Group CEO, Commercial Bank of Qatar.