Merger Talks Underway Between Al Khaliji Commercial Bank and Masraf Al Rayan

In a filing issued on the 30th of June 2020, Qatar-based banks, Al Khaliji Commercial Bank and Masraf Al Rayan (MAR) stated that they have commenced negotiations on a merger that could potentially create an Islamic bank with over QAR 164 billion in combined total assets.

Both banks stated that the merger is subject to regulatory approval from the authorities (namely the Qatar Central Bank, the Ministry of Commerce, and the Qatar Financial Markets Authority), as well as the respective bank’s shareholder approval.

According to the filing, the potential merger will create one of the largest Shariah-compliant banks in Qatar as well as the Middle East.

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