Qatar Financial Markets Authority Approves Merger of Masraf Al Rayan and Al Khaliji Commercial Bank 

The Qatar Financial Markets Authority (QFMA) has approved the merger of Masraf Al Rayan and Al Khaliji Commercial Bank.

Why it Matters?

This merger of these two banks will create one of the largest Shariah-compliant groups in the Middle East. The merger will result in the formation of a stronger bank with a robust financial position and high liquidity, a diverse range of banking activities and customer portfolios, unique products, and a stronger foundation for financing development initiatives in accordance with Qatar’s National Vision 2030.

Details

Moody’s Investors Service (Moody’s) stated in an April 2021 report that the merged entity would be Qatar’s second-largest bank and the largest Is...