Data issued by the Qatar Central Bank showed that the assets of Islamic banks increased by 12.6 percent on an annual basis, and 2.3 percent on a monthly basis, to the level of 507.4 billion riyals in December 2021.
The growth level of Qatari Islamic banks’ assets outperformed their conventional commercial counterparts, which recorded an asset growth level of 1.6 percent in December 2021 on a monthly basis, compared to the levels recorded in November 2021.
The assets of Qatari Islamic banks account for a share of 28 percent of the total assets of the banking sector in the State of Qatar.
According to the report, deposits in Qatari Islamic banks increased by 0.4 percent on a monthly basis, to reach the level of 312.7 billion riyals in December 2021 compared to November 2021. While it rose by 17.5 percent on an annual basis compared to December 2020, compared to a greater increase in deposits of conventional banks in December 2021 by 1.4 percent on a monthly basis compared to November 2021.
In December 2021, the change in financing was marginal, as financing granted by Islamic banks decreased by 0.1 percent compared to November 2021. The total financing of Islamic banks in December amounted to 338.8 billion riyals. On the other hand, financings in conventional commercial banks increased by 0.3 percent, and on an annual basis, financings of Islamic banks increased by 8.7 percent.
Source (Al-Dustour Jordanian Newspaper, Edited)
