Qatar Banks

Qatar banks are a combination of foreign and national banks. Altogether there are 16 banks in Qatar. There are two Islamic banks, seven institutions of Qatar's own and five commercial banks. The Qatar banks go in listing as Qatar National Bank, International Bank of Qatar, Masraf Al Rayan, Bank Saderat Iran, BNP Paribas in Qatar, Doha Bank, HSBC Qatar, Qatar Central Bank, The Commercial Bank of Qatar, Arab Bank Qatar, Mashreq Bank, Qatar International Islamic Bank, Qatar Islamic Bank, Qatar Development Bank or QDB, Standard Chartered Bank Qatar and Al Ahli Bank of Qatar.

Qatar Development Bank was set up in 1997. This bank specially offers finance to medium small and scale industries. The Al Ahli Bank of Qatar has taken a stake of 40% from Al-Ahli Bank of Bahrain. This incident is the first in purchasing a stake by foreign banks in Qatar. Qatar Central Bank or QCB supervises other banks of Qatar. Qatar Central was founded in 1993.

Based on the Basle Accord, QCB has set new international standards for banking regulations and supervision. It was February 2001 when Qatar Central Bank freed the banking system from policy restrictions of all interests. In spite of the banking system, revenues earned from oil, gas and heavy industry products have been beneficial to the Qatar economy. Qatar Banking is very convenient.

The following links will provide more information about Qatar Banks:

• Qatar National Bank
• Commercial Bank of Qatar
• Qatar Central Bank
• Qatar Islamic Bank
• International Bank of Qatar (ibq)