A new economic report showed that the value of Islamic financing assets in Qatar amounted to about 694 billion riyals at the end of 2024.
The report titled: “New Horizons” and prepared by the Qatar Financial Center in cooperation with the London Stock Exchange Group (LSEG), indicated that Islamic banking and sukuk services constituted 97 % of the total assets, and that there is a significant increase in Islamic banking, as the value of assets reached 586 billion riyals in 2024, with an annual growth rate of 6.8 % since 2020, outperforming the performance of banking services Traditional.
The Islamic Finance Report in Qatar for the year 2025 was issued within the activities of the Islamic Finance Forum organized by the Qatar Financial Center in cooperation with the London Stock Exchange Group under the title “Empowerment of Transformation”, which collected a group of industry leaders and experts in the field of public policies, and includes high -level discussions on the strategies of developing and reshaping Islamic financing industry through the banking services and capital and financial technology markets.
The report monitored the most prominent developments in the Islamic Finance Sector in Qatar over the past five years, with a focus on the most prominent market trends and progress in the organizational field and the extent of compatibility with the third strategic plan for the financial sector in Qatar.
The report pointed to the expansion of the sukuk market, as the issuance of the sukuk by the Qatari institutions increased by more than three times, from 9.2 billion riyals in 2020 to 30.4 billion riyals in 2024, and the growth of the solidarity sector with a total increase in the assigned contributions to $ 1.9 billion in 2024, while double the market share of the sector from 6% to approximately 11% between 2020 and 2024.
The report pointed to a significant growth in financial technology with the high volume of Islamic financial technology transactions three times to about 10 billion riyals in 2024, with an expected annual annual growth rate of 10% until 2028. In addition to global excellence that Qatar ranked eighth in the International Islamic Financial Technology Index for the year 2024.
The forum also witnessed the issuance of the Sukuk Directory of the Qatar Financial Center, which provides a brief general overview of the Sukuk market in Qatar since 2005, and the types of common structures for sukuk and legal and regulatory frameworks used for the Sukuk exporters registered in the Qatar Financial Center.
Commenting on the hosting of this event, Mr. Youssef Mohamed Mohamed Al -Jaida, CEO of the Qatar Financial Center, said: “This forum embodies our commitment to providing opportunities to exchange knowledge and dialogue on Islamic financing policies. Through our cooperation with the London Stock Exchange Group to prepare the Islamic Finance Report in Qatar for the year 2025, we aim to support the stakeholders by providing them with information, data and tools needed to benefit from the growing opportunities in the tired financial sector in Qatar”.