Islamic Banks Contribute to Qatar’s Islamic Finance Growth in 2020; QAR 8 Billion Sukuk Issued 

Islamic banks in Qatar accounted for 86% of the QAR 528 billion Islamic finance assets recorded in the industry in 2020, with the assets of Islamic banks up 8.4% year-on-year. Islamic banks in Qatar also issued QAR 8 billion worth of Sukuk in 2020. Governor of the Central Bank Of Qatar, HE Sheikh Abdulla bin Saoud al-Thani highlighted that Islamic finance in Qatar continues to develop through regulations and policies that are being updated to enable the sector’s competitiveness, regionally as well as internationally.

Why it Matters?

Qatar’s Islamic finance sector has managed to mitigate the shock impacts of COVID-19 through measures that concentrated on ensuring business continuity, liquidity and providing support to affected sectors. Thes...