This is the 2nd IFN Qatar event.
Qatar’s’ Islamic banking industry, with four fully fledged Islamic banks, enjoyed 26.1% of the total market share of global Islamic banking assets as at the third quarter of 2019.
The four Takaful operators enjoy a 45% domestic market share.
Abroad, QIIB founded Umnia Bank in Morocco. Masraf Al Rayan-owned Al Rayan Investment is working on establishing a fintech-based Islamic bank in Kazakhstan.
Islamic fintech is an area of focus, with Qatar Fintech Hub launching incubator programs to develop fintech start-ups focusing on Islamic finance, including TakaTech and Shariah compliant cryptocurrency.
Qatar remains a global leader for the Islamic finance industry and with its sturdy regulations and progressive regulators, their position is not in jeopardy.