Qatar Financial Services Articles & Analysis

Chapter | Insurance from The Report: Qatar 2017

For several years the insurance sector has undergone major regulatory changes, as the industry positions itself in alignment with international best practices. The sector has been expanding considerably in recent years, often with double-digit growth. Furthermore, penetration rates are still relatively low, meaning there is plenty of room for new products, services and customers. However,...

2017 proved a turbulent year for Qatar, dominated by the diplomatic rift that emerged between the country and several other regional states in June 2017. However, Qatar has adapted quickly, with many in the local business community confident about the future.

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For several years the insurance sector has undergone major regulatory changes, as the industry positions itself in alignment with international best practices. The sector has been expanding considerably in recent years, often with double-digit growth. Furthermore, penetration rates are still relatively low, meaning there is plenty of room for...

 

Efforts are under way to relaunch a compulsory health insurance scheme, with initial expectations of its launch in 2017. While details were still being ironed out at time of press, insurers are hopeful that the system will provide the sector with a new and lucrative business. Underwriters have been setting up new medical systems in preparation...

 

With governments across the GCC feeling the pinch from low global oil prices, sukuk (Islamic bonds) are witnessing a renewed trend of issuances. According to the ratings agency Fitch, new issuances of sukuk in core markets rose by 26% in 2016, with the trend continuing into the first half of 2017. Moreover, Fitch expects the absolute...

 

How have IFS benefitted from the $200bn expenditure for the 2022 FIFA World Cup and other ongoing projects?

 

It was more challenging operating environment for the Islamic financial services (IFS) sector in 2016, as the continuing effects of low oil prices fed into the domestic economy, leading to a sizeable decline in government deposits and a tightening of liquidity. Nonetheless, asset growth continued, and as oil prices began to pick up towards the...

 

Islamic financial services (IFS) have come a long way in a relatively short period. According to the Islamic Financial Services Board (IFSB), the international body that acts as the global regulator for the sector, $1.89trn of assets were managed in sharia-compliant structures internationally in 2016. As the sector grows, so do the demands...