Qatar Central Bank data showed that the assets of Islamic banks in Qatar were registered at a level of 535 billion riyals, during the month of October, which is the latest available data, up by 0.6 percent compared to September 2022, and up by 10.4 percent on an annual basis compared to October 2021, compared to a marginal decrease in the assets of traditional commercial banks of 0.8 percent on a monthly basis, and a decrease of 1 percent on an annual basis.
This growth in the assets of Islamic banks led to an increase in the balance of foreign assets by 4.6 percent, while Islamic banks acquire a share of 29 percent of the assets of the banking sector in Qatar.
The report monitored a decrease in deposits with Islamic banks by 1.1 percent on a monthly basis, amounting to 314 billion riyals. This monthly decline was led by the decline in deposits of non-residents by 11.4 percent. While deposits in Islamic banks rose on an annual basis by 1.7 percent. Deposits of conventional commercial banks decreased by 1.1 percent on a monthly basis and an annual decline of 2.5 percent. Deposits of Islamic banks in October 2022 were concentrated in the private sector by 53 percent, followed by the public sector by 36 percent, while the percentage of non-resident deposits amounted to 11 percent.
Source (Qatari Al-Raya Newspaper, edited)
