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Qatar is a small Middle Eastern country with a very strong economy and a developing financial sector. This industry is very important in the growth of the economy of this country. This paper aims at identifying the top 10 banks in Qatar and explains the type of services they offer and their role in the financial sector.
1. Qatar National Bank (QNB)
Qatar National Bank (QNB) is the biggest bank in Qatar and one of the biggest banks in the Middle East and North African regions. It is one of the biggest banks in Qatar and internationally, and it offers a wide range of banking services for individuals, companies, and government.
Key Features:
- Has a large number of branches and ATMs throughout the country to reach out to many customers.
- Consumer banking products and services include personal loans, credit cards, and savings accounts.
- Offers a wide range of corporate banking services such as trade finance, project finance, and cash management.
2. Commercial Bank of Qatar
Commercial Bank of Qatar was established in 1975 and is one of the leading banks in the country and a leading financial services provider to individuals and businesses.
Key Features:
- Offers a good number of retail banking products such as mortgages, personal loans and investment products.
- Good focus on the digital bank to enable the online and mobile banking.
- A separate corporate banking department to address business needs including trade finance and cash management.
3. Doha Bank
Doha Bank is one of the oldest banks in Qatar and is well known for its community banking and niche financial services.
Key Features:
- Standard retail banking products include personal loans, credit cards, and savings accounts.
- Good focus on providing financial solutions for all kinds of businesses.
- International presence with many branches and subsidiaries to facilitate trade and investment.
4. Al Rayan Bank
Al Rayan Bank, previous name Qatar Islamic Bank, is the biggest Islamic bank in Qatar and is a Sharia compliant bank.
Key Features:
- Offers home and vehicle financing, as well as investment accounts, according to Islamic banking solutions.
- Sharia compliance team of experts to ensure that all services provided are Sharia compliant.
- Achievement of several recognitions for Islamic banking and applying Sharia in its purest form.
5. Ahli Bank
Ahli Bank is a major Qatari bank that offers its services to individuals, companies, and government entities with a particular emphasis on enhancing customer delight.
Key Features:
- Offers a wide range of retail banking products such as personal loans, credit cards, and savings accounts.
- Major concentration in the provision of services to SMEs in order to support their growth.
- Good digital presence to ensure that the online and mobile banking interfaces are easy to use.
6. Barwa Bank
Barwa Bank is one of the biggest Sharia compliant banks in Qatar and offers unique and distinct financial solutions for both individuals and businesses.
Key Features:
- Islamic banking products such as home financing and investment accounts.
- Sharia experts to guarantee that all the services provided are Sharia compliant.
- Awarded for its efforts in the Islamic banking sector in Qatar and for its achievements.
