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Sharia-compliant banks are the dominant players in Qatar’s IFS sector, and the merger between Barwa Bank and International Bank of Qatar is a crucial step in increasing the sector’s share of the country’s overall banking market, which has experienced a decline in recent years. Although conventional players still dominate both the banking and insurance sectors, recent growth figures indicate that there is an increasing appetite for sharia-compliant banking and takaful (Islamic insurance), particularly in the domestic market. Looking ahead, the QCB’s decision to standardise and centralise sharia regulations looks set to boost confidence and encourage growth. This chapter contains interviews with Bassel Gamal, Group CEO, Qatar Islamic Bank; and Abdulbasit Ahmed Al Shaibei, CEO, Qatar International Islamic Bank.

Qatari capital markets continue to play a major role in the national economy despite a gradual slowdown brought about by the slowing pace of infrastructure investment in the run-up to the 2022 FIFA World Cup. Nonetheless, the Qatar Stock Exchange enjoyed a strong year in 2019, following on from the previous year, in which it was the best-performing market in the GCC, with returns of around 20%. The global geopolitical context remains an important determinant of Qatari capital markets activity, both in terms of China-US trade tensions, the exit of the UK from the EU and the ongoing spread of the Covid-19 virus. This chapter contains an interview with Rashid bin Ali Al Mansoori, CEO, Qatar Stock Exchange.

Against a backdrop of sluggish global economic growth and ongoing tensions in the region, Qatar’s banking sector is proving to be strong and resilient, with growth in assets and profits reported by nearly all of the country’s listed institutions at the end of 2019. With a strong pipeline of major development project financing over the short term, against a backdrop of strong and sustained growth in recent years, Qatar’s banking sector can anticipate profits and success well into the future. A merger involving one of its oldest conventional lenders to form the country’s third-largest Islamic bank suggests a considerable appetite for sharia-compliant facilities. This chapter contains interviews with Sheikh Abdulla bin Saoud Al Thani, Governor, Qatar Central Bank; Abdulla Mubarak Al Khalifa, Group CEO, Qatar National Bank; and Joseph Abraham, Group CEO, Commercial Bank of Qatar.

Qatar’s wealth of hydrocarbons puts it at the centre of global trade, with its liquefied natural gas feeding factories in China and powers stations in Japan, while its helium is used in everything from MRI scanners to aircraft parts. Qatar's rapid economic growth in the past two and a half decades should help the trade sector weather the challenges it faces in 2020. On the home front, investors are working to develop industrial segments that can draw on Qatar’s multiple economic strengths to make innovative products that can leverage its modern port and airport infrastructure to develop new overseas markets. This chapter contains interviews with Fahad Rashid Al Kaabi, CEO, Manateq; and Ali Al Waleed Al Thani, CEO, Investment Promotion Agency.

The Qatari government has created a clear roadmap with Qatar National Vision 2030, which focuses on economic diversification and growth with a retention of the country’s key cultural values at its heart. Although much of the focus in recent times has been on infrastructure preparations for the 2022 FIFA World Cup, it is the period following the tournament, when new liquefied natural gas and petrochemicals cargo starts to be shipped, that will have a more significant lasting impact on Qatar’s broader development. This chapter contains interviews with Ali bin Ahmed Al Kuwari, Minister of Commerce and Industry; Sheikh Khalifa bin Jassim bin Mohammed Al Thani, Chairman, Qatar Chamber; Ahmad Al Sayed, Minister of State; and Chairman, Qatar Free Zones Authority; and Abdulaziz bin Nasser Al Khalifa, CEO, Qatar Development Bank.