Global finance list of leading banks in Qatar based on size, longevity and market knowledge, in alphabetical order.
Pearling, fishing, agriculture and nomadic pastoralism: these were the mainstays of the Qatari economy until the discovery of oil in the 1940s. The country has undergone rapid and dramatic transformation. Today, Qatar is a spectacle of cutting-edge architecture, where the streets are filled with luxury boutiques and gourmet restaurants, and the population has one of the highest standards of living in the world.
These changes would not have been possible without an efficient and constantly developing banking sector. Banks have played a key role in financing major infrastructure projects and facilitating international trade and investment activities.
As has been the case in the oil and gas industry, Qatari banks are now at the forefront of the country’s efforts to diversify the economy and focus on sustainable growth through investment in sectors ranging from tourism to information technology and human capital development. These are the leading banks in Qatar, listed in alphabetical order, each with their own strengths and unique history.
Ahlibank
Founded in 1983, Ahlibank’s guiding principle is to adhere to traditional values and adapt to change. The bank’s brand symbol is the oyster shell, reflecting its commitment to preserving and preserving customers’ savings and assets over time. With its head office and 11 branches across Qatar, Ahlibank offers a wide range of products and services, including corporate, retail, private and international banking, as well as treasury and investment services. In addition, Ahlibank provides insurance solutions and operates a wholly owned brokerage subsidiary. Ahlibank supports various programs focused on health, social welfare and education. With assets exceeding $16 billion, Ahlibank is also a Global Finance award winner in the World’s Safest Banks category.
Arab Bank of Qatar
Founded in 1957, Arab Bank Qatar is part of the Jordan-based Arab Bank Group, which boasts a network of more than 600 branches across five continents and controls approximately $65 billion in assets. This financial institution is one of the oldest and most reputable among a select few foreign banks in the country, including HSBC, BNP Paribas and Standard Chartered. Through its consumer, corporate and institutional banking and treasury segments, Arab Bank Qatar provides a comprehensive range of services tailored to individual, enterprise and institutional clients. Its parent company has won numerous Global Finance awards, including Best SME Bank, Best Community Bank, Best Cash Management Bank and Best Trade Finance Provider in the Middle East.
Qatar Commercial Bank
Founded in 1975, Commercial Bank of Qatar (CBQ) was the first private bank to be established in the country. It has since grown into one of Qatar’s largest financial institutions, with assets valued at more than $45 billion. Over the years, it has played a key role in the development of the domestic banking landscape, becoming, among other achievements, the first Qatari bank to issue bonds on international capital markets in 2006 and to list its global depository receipts in 2008.
Offering financial solutions ranging from conventional retail banking to business, government and investment services, CBQ boasts a nationwide network of over 30 branches and 200 ATMs, as well as a regional presence through 100% ownership of Alternative Bank Turkey and strategic partnerships with the National Bank of Oman (NBO) and the United Arab Bank (UAB). CBQ has received numerous Global Finance awards over the years. In particular, it has repeatedly received the “Best Bank in Qatar” award.
Doha Bank
Founded in 1979, Doha Bank provides domestic and international banking services to retail, commercial, corporate and institutional clients through four business groups: wholesale, retail and international banking, and treasury and investment. With assets of approximately $28 billion and more than 470,000 active customers, Doha Bank has also opened overseas branches in Kuwait, the United Arab Emirates and India, as well as representative offices in Japan, China, Singapore, South Korea, Bangladesh, Nepal and Australia . , South Africa, Türkiye, UK and Germany. As a strong proponent of corporate social responsibility (CSR), Doha Bank sponsors several programs that benefit the environment and local communities. Over the years, Doha Bank has been recognized by Global Finance in the Safest Banks category. Perhaps more importantly, one of its employees, Mr. Shakir Chirayi, was listed in the Guinness Book of Records for the fastest crossing of Qatar on foot, taking 1 day, 6 hours and 56.50 seconds.
Dukhan Bank
Originally established as Barwa Bank in 2008, the full-service Shariah-compliant institution—today the third largest in the country—began operations in 2009. In October 2020, following a merger with Qatar International Bank, it was renamed Dukhan. Bank. This strategic move was part of an expansion plan that culminated in a listing on the Qatar Stock Exchange in February 2023.
Dukhan Bank provides retail, corporate and government banking services. In addition, the bank caters to high net worth individuals through personalized wealth management solutions. With assets exceeding $31 billion, Dukhan Bank operates an extensive branch network serving more than 150,000 customers. Dukhan Bank is a recent winner of Global Finance’s “Safest Islamic Banks in the GCC” award as well as the “Best Islamic Financial Institutions in the World” award.
Lesha Bank
Founded in 2008, Lesha Bank is the first independent Shariah-compliant investment bank authorized by the Qatar Financial Center Regulatory Authority. Formerly known as Qatar First Bank, since its initial focus on real estate and equity, it has expanded its offerings to provide a full range of investment, asset management and treasury services to a diverse client base that includes high net worth individuals (HNWIs). ), as well as local and international corporations and institutions. As part of its mission, the bank is constantly developing new products and services that take into account not only financial factors, but also their social and environmental impact. With assets totaling approximately $1.7 billion, Lesha Bank is a recipient of the Global Finance Award for Best Promising Islamic Financial Institution.
Masraf Al Rayan
Founded in 2006, Masraf Al Rayan has quickly grown into the second largest Islamic bank in Qatar with assets of approximately $45 billion. The organization consists of three main business units offering a wide range of Shariah-compliant products and services in retail banking, corporate banking and private banking. With 17 branches and a network of 101 ATMs distributed throughout Qatar, Masraf Al Rayan has also expanded its presence internationally by opening branches in France, the United Arab Emirates and the UK, where it became the first Islamic bank to receive a public Moody rating. In 2021, the bank completed the acquisition of Al Khaliji Commercial Bank, marking the first merger of publicly listed banks in Qatar. Over the years, Masraf Al Rayan has been recognized by Global Finance with awards in the categories of “Safe Bank in the Gulf Region” and “Best Investment Bank in Qatar”.
Qatar International Islamic Bank
Qatar International Islamic Bank (QIIB), a private Islamic bank, describes itself as a family-oriented institution based on three pillars: trust, family and commitment. Founded in 1990, QIIB offers personal and corporate banking solutions, treasury and investment services, and financial products specifically designed for high net worth clients through its 18 branches across the country. In addition, QIIB has a presence in Morocco, where it owns a 40% stake in Umnia Bank and founded the insurance company Takaful in 2022. The Qatar Investment Authority, with assets of about $17 billion, is its largest shareholder with a 16% stake. Its shares are traded on the Qatar Exchange.
Qatar Islamic Bank
Qatar Islamic Bank (QIB) is the first and largest Islamic bank in Qatar and the second largest financial institution in the country with assets of approximately $52 billion. Founded in 1982, QIB has since been at the forefront of developing innovative Islamic financial products. Most notably, in 2003, the bank issued the world’s first Islamic convertible bonds (sukuk), thereby expanding the range of Shariah-compliant investment opportunities available to investors. Currently with 23 branches and over 170 ATMs across Qatar, the bank has also expanded its global presence by establishing a presence in the UK, Malaysia, Lebanon and Sudan. Today, QIB manages more than 35% of the total sharia-compliant assets of domestic banks and holds approximately 10% share of the overall banking market, counting individuals, government agencies, small and medium-sized businesses, and large corporations among its clients. In recent years, QIB has won numerous Global Finance awards, including Best SME and Best Consumer Digital Bank in Qatar, Best Islamic Corporate Bank and Best Islamic Bank for Corporate Social Responsibility (CSR) in the World “
Qatar National Bank
Founded in 1964, Qatar National Bank (QNB) was the first bank to be financed and wholly owned by Qataris. The company’s headquarters are located in a government-owned building in Doha. In its first year of operation, it had 35 employees. Six decades later, the total number of employees has grown to 30,000, the number of customers has grown to more than 27 million, and the company has expanded to 900 offices in more than 30 countries. Over the years, QNB has played a key role in transforming Qatar from a traditional resource economy into a global powerhouse, helping to finance major infrastructure projects and supporting communities through its corporate social responsibility (CSR) programs and sponsorships. Offering services ranging from banking and loans to real estate, advisory and wealth management, today QNB is the largest financial institution in the Middle East with assets of more than $325 billion. Over the years, it has won numerous Global Finance awards, including Best Bank and Best Private Banking in Qatar.