Islamic Financial Services
From The Report: Qatar 2014
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The Islamic finance services (IFS) sector in Qatar is one of the most vibrant in the region and incorporates a rapidly expanding sharia-compliant banking segment, an array of financing companies, an insurance market that is well positioned to capitalise on the potential of an underserved market, and an increasingly deep Islamic investment component. Recent regulatory changes suggest that the government’s ambition to establish the nation as a centre for Islamic finance remains undimmed and, as the country gears up for the project pipeline associated with Qatar National Vision 2030 and the 2022 FIFA World Cup, sharia-compliant finance players are expected to reap the rewards of this support.
This chapter contains an interview with Bassel Gamal, Group CEO, Qatar Islamic Bank.

Articles from this Chapter

Overview

Leading role: The government continues efforts to make the country a centre for IFS
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The Islamic finance services (IFS) sector in Qatar is one of the most vibrant in the region and incorporates a rapidly expanding sharia-compliant banking segment, an array of financing companies, an insurance market that is well positioned to capitalise on the potential of an underserved market, and an increasingly deep Islamic investment component. Recent regulatory changes suggest that the government’s ambition to establish the nation as a centre for Islamic finance remains undimmed and, as the…

Analysis

Sharia-compliant solutions: Finding short-term financial instruments for Islamic lenders
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The effort to increase the range of liquidity management solutions available to Islamic banks is an international one, and one in which Qatar has historically played a prominent role. An announcement in 2013 by the Islamic Development Bank (IDB) suggests that Qatar will soon take an even greater part in closing the liquidity gap that faces sharia-compliant lenders. Interest Answers The issue of liquidity is a significant challenge to Islamic banks. The three major liquidity management instruments…

Interview

OBG talks to Bassel Gamal, Group CEO, Qatar Islamic Bank (QIB)
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Interview:Bassel Gamal What is behind the high growth rates among Islamic financial institutions (IFIs) in Qatar? BASSEL GAMAL: Qatar’s Islamic banking segment has recorded strong momentum over the last few years, not only in Qatar itself, but across the entire GCC. There are a number of contributing factors for this, not least of which is the strong economic growth that the country is enjoying. This growth is both supported and governed by the Qatar Central Bank, which regulates the banking…

Analysis

Growth driver: Sukuk issuance has increased considerably in recent years
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Qatar has been recognised as a leading player in the increasingly active global sukuk arena since its stellar year in 2011, when it raised around $3.1bn in 11 separate offerings and was responsible for 11% of global sukuk issuance, according to Markaz Research. That memorable year also saw Qatar lay claim to the largest single issuance, valued at $9.06bn with a three-year tenor. This was around seven times the size of its nearest rival, tranche one of the Malaysian sovereign Wakala Global Sukuk.…