Amid the global economic downturn linked to the pandemic, Qatar was able to draw on its strong track record of fiscal surpluses and its robust sovereign credit rating to fund an integrated and effective policy response that alleviated the most severe pressures on vulnerable businesses and households, and maintained economic stability. As the pandemic entered its second calendar year, Qatar emerged as a regional and global leader in the public vaccine rollout, which enabled it to ease restrictions safely and kick-start struggling service industries. With the country well positioned for long-term growth, the sharia banking segment is poised to play a key role in the diversification drive. Aided by enhanced efficiencies created by rapid digitalisation, Islamic banks can capitalise on high-value opportunities in infrastructure funding, mortgage solutions and the financing of Qatar’s green transition.
