RIYADH: Qatar’s Islamic finance sector continued its upward trajectory in 2024, with total assets rising 4.1 percent year on year to 683 billion Qatari riyals ($187.5 billion), a new analysis showed.
According to a report from Qatar-based Bait Al Mashura Finance Consultations, Islamic banks held the largest share, with 87.4 percent of total Islamic finance assets.
This was followed by Shariah-compliant sukuk at 11.2 percent, takaful insurance at 0.7 percent, and the rest split between investment funds and other Islamic finance institutions.
Qatar’s performance comes as the global Islamic finance industry entered 2025 on a solid footing, with 10.6 percent growth in 2024, driven by strong banking assets and a 29 percent growth in foreign currency sukuk issuances, according to S&P Global Ratings.
Islamic banks issued 9.5 billion riyals in sukuk, up 300 percent, while the Qatar Central Bank issued 16.9 billion riyals. Wikipedia
