Two of the biggest trends in global insurance in recent years are premium growth in emerging markets and the rising importance of technology across the supply chain. The latter has come to be referred to as insurtech, a potentially disruptive trend that heralds both threats to and opportunities for incumbents and newcomers alike. While...
What role can Islamic financial services play in facilitating the country’s move towards sustainable economic development?
In what ways will Islamic banks and their conventional counterparts continue to expand their influence over the short to medium term?
In 2019 the Qatar Central Bank (QCB) announced its plans to introduce standardised criteria for sharia compliance. The bank revealed that it was working with a consultancy firm to “prepare principles and standards that govern the various Islamic banking products and transactions, and the legal supervision thereof”. Qatar’s four local Islamic...
Islamic financial services (IFS) are playing an increasingly important role in Qatar’s economy, and the sector is poised for growth as the gas-rich country continues to invest in infrastructure and the expansion of its energy sector. In 2019 the country’s first bank merger, between Barwa Bank and conventional lender International Bank of Qatar...
Mirroring a trend seen across the Gulf, two Qatari lenders announced the country’s first bank merger in 2019. In April of that year Barwa Bank and International Bank of Qatar (IBQ) announced the finalisation of negotiations and clearance of regulatory requirements necessary to consolidate operations. The merged entity, which operates as Barwa...
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