Banking
From The Report: Qatar 2026
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Qatar’s economic diversification goals under its long-term economic blueprint – Qatar National Vision 2030 – positions its banking sector and its dynamic Islamic finance segment as an important pillar for sustainable development and non-fossil fuel growth. Financial and insurance services continue to be an important driver of Qatar’s economic growth, with sector contribution to GDP gradually rising from 5% in 2013 to 8% by the end of 2024. While heightened regional tensions and the Iran conflict have introduced a degree of uncertainty into the operating environment, Qatar’s substantial financial resources, robust institutional frameworks and proven crisis-management capabilities leave the sector well placed to navigate external shocks. Against this backdrop, the country’s banking sector remains positioned for continued growth, supported by a resilient economy and increasing LNG production. International ratings agencies anticipate the performance of Qatari lenders to remain resilient, bolstered by strong capitalisation, adequate liquidity and high asset quality.

This chapter contains interviews with Abdul Hakeem Mostafawi, CEO, HSBC Qatar; Sheikha Maryam bint Khalifa Al Thani, CEO, Qatar Credit Bureau; and Stephen Moss, Group CEO, Commercial Bank of Qatar.

Articles from this Chapter

Overview

Growth drivers: Regulatory strength and digital transformation efforts support diversification and long-term expansion
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Qatar’s economic diversification goals under its long-term economic blueprint – Qatar National Vision (QNV) 2030 – positions its banking sector and its dynamic Islamic finance segment as an important pillar for sustainable development and non-fossil fuel growth. Financial and insurance services continue to be an important driver of Qatar’s economic growth, with sector contribution to GDP gradually rising from 5% in 2013 to 8% by end of 2024. As one of the world’s largest liquefied natural…

Interview

Strategic development: Abdul Hakeem Mostafawi, CEO, HSBC Qatar, on balancing global standards with domestic economic realities
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Interview: Abdul Hakeem Mostafawi, CEO, HSBC Qatar, on balancing global standards with domestic economic realities How are banking and capital markets evolving as a connector to international capital? MOSTAFAWI: Qatar’s banking and capital markets sectors have evolved considerably in recent years, supported by macroeconomic fundamentals, prudent regulation and sustained investor confidence. These strengths have enabled the financial system to remain resilient during periods of global uncertainty,…

Interview

Credit catalyst: Sheikha Maryam bint Khalifa Al Thani, CEO, Qatar Credit Bureau, on building trust through data, expanding financial inclusion and creating a more resilient investment environment
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Interview: Sheikha Maryam bint Khalifa Al Thani, CEO, Qatar Credit Bureau, on building trust through data, expanding financial inclusion and creating a more resilient investment environment How can credit bureaus play a role in addressing financial challenges in emerging economies? AL THANI: Credit bureaus can play an important role in addressing financial challenges in emerging economies because they reduce information asymmetries between lenders, borrowers, regulators and investors. In many developing…

Analysis

Updated guidelines: New regulations set standards for conventional players as well as digital-only financial service providers
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Qatar’s conventional financial service providers are driving the adoption of digital banking services and mobile banking applications, underpinned by increasing customer demand for contactless payments and digital wallets amid high internet penetration and smartphone use. A regulatory framework for digital banks, introduced by the Qatar Central Bank (QCB) in December 2024, establishes guidelines for digital-only lenders to operate through online and mobile platforms, and for traditional banks seeking…

Interview

Supporting a vision: Stephen Moss, Group CEO, Commercial Bank of Qatar, on the finance sector’s role in driving diversification and sustainability
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Interview: Stephen Moss, Group CEO, Commercial Bank of Qatar, on the finance sector’s role in driving diversification and sustainability What role do you see Qatar’s banking sector playing in supporting the country’s diversification agenda? MOSS: Qatar’s banking sector plays a central role in supporting diversification under Qatar National Vision 2030 by providing capital and enabling private sector development. As the economy moves beyond hydrocarbons, banks are helping build a more balanced…