Interview: Bassel Gamal, Group CEO, Qatar Islamic Bank, on the role of the sector in advancing corporate awareness of a sustainable development agenda
How is the growth of Islamic banking in Qatar influenced by the increasing demand for sharia-compliant services and digital transformation?
BASSEL GAMAL: Islamic banking has seen significant domestic growth, an evolution reflecting both alignment with sharia principles and the sector’s modernisation efforts in line with Qatar National Vision 2030. The focus on customer-centric digital solutions has been a key factor, with advanced platforms enhancing everything from onboarding processes to real-time cross-border transactions.
Adoption of automation, artificial intelligence and data analytics demonstrates the sector’s push to optimise operations and enable agile, data-driven decision-making. Integrating financial technology (fintech) solutions is also enhancing service delivery and customer experiences, while streamlining processes like risk assessment. As digital transformation reshapes the landscape, banks are focusing on personalised and inclusive services, expanding access for retail clients and small businesses alike.
Looking ahead, the ongoing growth of sharia-compliant services will continue to require balancing technological advancements with an adherence to Islamic banking principles. Collaboration with fintech firms and a focus on innovation are expected to keep the sector competitive, enhancing resilience and positioning Qatar as a leader in Islamic finance.
What innovative solutions are being developed to support underserved segments, such as low-income earners and small and medium-sized enterprises (SMEs) through digital channels?
GAMAL: Digital transformation is fundamentally reshaping accessibility, with a focus on providing inclusive financial services. Efforts have been made to address the needs of underserved segments using tailor-made digital solutions. An example is the development of mobile applications designed specifically to enable essential banking activities, such as remittances for migrant workers and similar groups. This approach aligns with broader financial inclusion goals and ensures that secure, efficient financial services are available to all. Additionally, the sector’s focus on SMEs highlights a concerted effort to provide financing and sharia-compliant solutions that support economic resilience and diversification.
In what ways can the integration of sustainability and green finance principles transform the banking landscape, and how does this align with broader national objectives?
GAMAL: The focus on sustainability and green finance aligns with national objectives and global trends in environmental, social and governance (ESG) principles. This integration goes beyond surface-level initiatives, embedding sustainability into core operations, products and services. For example, innovative tools such as carbon emissions trackers – developed through fintech collaborations – empower customers to monitor and reduce their environmental impact, fostering responsible financial behaviour and contributing to sustainability goals.
Green finance presents significant opportunities for banks to fund projects that prioritise renewable energy and energy efficiency initiatives. This commitment not only meets regulatory requirements, but also drives long-term value creation and climate resilience. Offering ESG-aligned financial products differentiates banks and attracts environmentally conscious clients, strengthening trust and engagement with stakeholders. As awareness around sustainability grows, banks must adapt by offering innovative products, fostering partnerships and embedding energy conservation within their organisational culture. By aligning its strategy with these principles, the sector is playing a pivotal role in advancing Qatar’s sustainable development agenda.
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