Demand for Shariah-Compliant Financial Services on the Rise in Qatar

Research from the Oxford Business Group (OBG) indicates a growing appetite for Islamic financing products in Qatar. The OBG indicated that although conventional players continue to dominate Qatar financial services industry, Islamic financial services (IFS) are playing a progressively vital role in the expansion of Qatar’s economy.

Data from the Qatar Financial Centre (QFC) revealed that total assets in the IFS sector were valued at USD 129 billion as of June 2019 and accounted for 33% of Qatar’s total financial sector assets. Further, IFS sector assets witnessed average growth at 8% per annum between 2015 and June 2019.

According to the OBG, the Islamic banking segment...