Qatar Stock Exchange (QSE) recently achieved a significant milestone by listing the first Islamic Sukuk in Qatar. The Sukuk, valued at QAR 500 million ($186 million), has been officially listed on the Sukuk and Debt Instruments Market. This step reflects Qatar’s ongoing efforts to diversify its capital markets and expand the range of investment options available to both local and international investors.
The Sukuk offers an attractive annual return of 4.40% with a three-year maturity. This new addition enhances Qatar’s Islamic finance market by broadening the availability of Shariah-compliant investment instruments. It strengthens the overall depth of the market and provides more investment choices for stakeholders.
Expanding Qatar’s Islamic Finance Market
The successful listing of QIIB Sukuk was celebrated with a bell-ringing ceremony at QSE, attended by key figures including Sheikh Dr. Khalid bin Thani bin Abdullah Al Thani, Chairman of QIIB, and Abdullah Mohammed Al-Ansari, CEO of QSE. This achievement not only highlights Qatar’s strong capital market but also positions QIIB as a leading player in the region’s Islamic finance sector.
As a result, the Sukuk listing opens up new financing options for QIIB, allowing the bank to tap into a broader investor base. This will support the bank’s financial flexibility and further enhance its stability and competitiveness in the local and regional banking markets.
Strengthening Local and Regional Investment
Sheikh Dr. Khalid bin Thani bin Abdullah Al Thani, Chairman of QIIB, expressed pride in the listing, calling it a significant milestone in expanding the bank’s presence both locally and internationally. He highlighted that the listing underscores Qatar’s continued economic strength, which attracts investment from all over the world, and reflects the confidence in the country’s financial institutions.
Moreover, the Sukuk listing will improve market liquidity, providing local and regional investors with easier access to high-quality financial instruments. This move enhances the depth of Qatar’s financial markets and further supports the diversification of the banking sector.
Aligning with Qatar’s Vision 2030
Abdullah Mohammed Al-Ansari, CEO of QSE, welcomed the listing as a step towards implementing Qatar’s Third Financial Sector Strategy. By introducing Shariah-compliant financial products, the listing not only meets investor demand but also strengthens Qatar’s position as a regional hub for Islamic finance. It provides investors with viable, asset-backed investment solutions, which further reinforces confidence in the local market.
QIIB’s CEO, Dr. Abdulbasit Ahmed Al-Shaibei, also emphasized that this listing aligns with the bank’s long-term vision to diversify its financing options. Over the past years, QIIB Sukuk has seen significant demand in international markets, especially on the London Stock Exchange. By listing the Sukuk on QSE, QIIB aims to enhance the depth of Qatar’s financial market, aligning with the Qatar Central Bank’s goals and the broader objectives of Qatar National Vision 2030.
