Qatar’s Islamic Finance Assets Increase by 20% to QAR 629 Billion in 2021
June 28, 2022 | Updated at June 28, 2022
Islamic finance assets in Qatar amounted to QAR 629 billion (USD 172 billion), witnessing a 20% growth in 2021, as Islamic banks, Sukuk, and Takaful companies accounted for 87%, 11.6%, and 0.8% of total assets, respectively, with the remaining portion made up from investment funds and other Islamic financial institutions, according to the Islamic Finance Report 2021 released by Bait Al Mashura Financial Consulting Company.
Why it Matters?
The rise in Islamic finance assets is attributed to the increase in the size of Islamic banks’ assets after the successful merger between Masraf Al Rayan and Al Khalij Commercial Bank (Al khaliji). According to Khalid bin Ibrahim Al Sulaiti, Vice-Chairman of the Board of Directors of Bait Al M...