3 Qatari banks were among the top 10 safest and most powerful banks in the Gulf and Middle East regions.
According to the Qatari newspaper, "Al-Sharq", today, Saturday, according to a classification of the American economic magazine "Global Finance", the classification included three Qatari banks provided by Qatar Islamic Bank, which is ranked fourth, with assets of nearly 48 billion US dollars.
"Dukhan Bank" came in fifth place, with assets exceeding $23 billion, and Qatar International Islamic Bank came in seventh place, with assets amounting to about $17 billion, after Kuwait's Boubyan Bank, which ranked sixth with $21 billion.
The Kuwait Finance House topped the list, with total assets estimated at $70.824 billion.
The report pointed to the significant growth witnessed by this sector in the Gulf region, especially during the last stage, thanks to the benefit of financial services in compliance with the provisions of Islamic Sharia.
This benefit led to this type of banking being able to bypass the slow development rate of the rest of the banking assets, and to occupy a prominent position in the banking sector, by acquiring a share of up to 50%.
The report expected the sector to achieve further growth in the next stage, based on the statements of Raymond Ramsdale, Head of Banking Classification in the Middle East and Islamic Services at Fitch, during which he emphasized the great strength of the Islamic finance sector in the Gulf at the present time.
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