Banking
From The Report: Qatar 2024
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Qatar’s banks have withstood recent global and regional uncertainties, leaving them in a strong position for further growth. The sector’s banks stand to benefit from the Third National Development Strategy for 2024-30, which prioritises financial services for the country’s development and economic diversification. The sector is also embracing digitalisation, the adoption of financial technology, and a host of new banking methods and services. The Qatari economy continues to adjust to the post-2022 FIFA World Cup reality, which has had a greater impact on some sectors than others. However, given its recent track record, strong buffers and deep pockets, the banking sector looks prepared for the challenges ahead.

This chapter contains interviews with Abdulla Mubarak Al Khalifa, Group CEO of QNB; and Sheikha Maryam bint Khalifa Al Thani, CEO of the Qatar Credit Bureau.

Articles from this Chapter

Overview

New frontiers: Amid global uncertainty, the sector is seeing steady growth underpinned by prudent governance and innovative strategies
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Well provisioned and supervised, Qatar’s banks have withstood recent global and regional uncertainties, leaving them in a strong position for further growth. The sector’s banks stand to benefit from the country’s new strategic vision – the Third National Development Strategy (NDS-3) for 2024-30, which prioritises financial services in Qatar’s future development and diversification. Meanwhile, the sector is embracing digitalisation, financial technology (fintech) adoption, and a host of…

Interview

Future finance: Abdulla Mubarak Al Khalifa, Group CEO, QNB, on regional banking trends and sector consolidation
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Interview:Abdulla Mubarak Al Khalifa Where do you identify the primary drivers of credit expansion in the banking sector? ABDULLA MUBARAK AL KHALIFA: Now that the 2022 FIFA World Cup is behind us, Qatar is entering a new phase of growth by focusing on expanding its liquefied natural gas (LNG) capacity through the North Field – the world’s largest non-associated gas field. This project involves the addition of six new LNG trains, making it one of the largest capital expenditure and industrial…

Interview

Building momentum: Sheikha Maryam bint Khalifa Al Thani, CEO, Qatar Credit Bureau, on creating tools to boost investor confidence
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Interview: Sheikha Maryam bint Khalifa Al Thani What is Qatar doing to promote financial transparency and responsible lending practices? SHEIKHA MARYAM BINT KHALIFA AL THANI: Credit reporting is a pivotal risk assessment tool that is gaining prominence in the country’s financial sector. To facilitate its wider adoption, the Qatar Credit Bureau has undertaken a phased expansion of its membership. The initial stage involved the inclusion of the financial sector, represented by banks, financial…

Analysis

Financing growth: Qatar seeks to unleash the country’s potential by prioritising the development of small and medium-sized businesses
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Released in January 2024, Qatar’s Third National Development Strategy 2024-30 (NDS-3) aims to bolster the role of the private sector in driving economic growth, shifting away from unsustainable government-led expansion. Small and medium-sized enterprises (SMEs) are identified as key players in this shift, with a projected compound annual growth rate of 36% in SME contributions to the non-hydrocarbons GDP by 2030. The strategy anticipates increased private sector funding opportunities, calling for…

Analysis

Crypto rush: Decentralised financing could play an important role in GCC countries’ efforts to diversify their economies
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GCC countries are increasingly embracing decentralised finance (DeFi) and attracting cryptocurrency companies as they seek to harness new financial technology (fintech) innovations, expand services, and enhance financial inclusion. DeFi, characterised by peer-to-peer financial services without central authorities, is viewed as a means for economic diversification and adoption of Web3 technologies like blockchain, the internet of things and artificial intelligence. The global DeFi market is expected…