Qatar: Islamic banks and finance
Checked on October 12, 2026
In Qatar banks are licensed by the Qatar Central Bank (QCB), while institutions in the Qatar Financial Centre fall under the QFCRA. In 2011 the QCB barred conventional banks from running Islamic windows, which clearly separated the two sectors. In 2026 the country has four Islamic commercial banks (QIB, AlRayan Bank, Dukhan Bank and QIIB) and one listed Islamic investment bank, Lesha Bank, licensed in the QFC. The sector has consolidated through mergers, notably Masraf Al Rayan with Al Khalij Commercial Bank in 2021 and Barwa Bank with International Bank of Qatar in 2019.
The 5 providers
-
Qatar Islamic Bank (QIB)
Islamic bank- Since
- 1982
- Supervision
- QCB
- Products
- Current account, Card, Savings, Home finance, Car finance, Personal finance, Business, Investments
-
AlRayan Bank
Islamic bank- Since
- 2006
- Supervision
- QCB
- Products
- Current account, Card, Savings, Home finance, Car finance, Personal finance, Business, Investments
Formerly Masraf Al Rayan, merged with Al Khalij Commercial Bank in 2021, the bank operates in 2026 under the name AlRayan Bank.
-
Dukhan Bank
Islamic bank- Supervision
- QCB
- Products
- Current account, Card, Savings, Home finance, Car finance, Personal finance, Business
Formed by the 2019 merger of Barwa Bank and International Bank of Qatar, the bank took the name Dukhan Bank in 2022.
-
Qatar International Islamic Bank (QIIB)
Islamic bank- Since
- 1991
- Supervision
- QCB
- Products
- Current account, Card, Savings, Home finance, Car finance, Personal finance, Business
-
Lesha Bank
Islamic bank- Supervision
- QFCRA
- Products
- Investments, Business
Formerly Qatar First Bank, the QFCRA-licensed Islamic investment bank took the name Lesha Bank in 2023.
Before you commit
- Ask for the names of the Shariah board members and their published rulings on the product.
- Check that the provider is authorised by the country’s regulator.
- Compare the total cost, not just the monthly payment: the calculators in this section can help.
- Read the contract: who owns the property, who bears the risk, late-payment charges and where they go.