Sri Krishna
Forbes Middle East’s Top 100 Companies for the year 2023 includes 16 Qatari firms, with QNB Group ranking 3rd overall. Here is a summary of the information provided about QNB Group and its ranking:
Table of Contents
- QNB Group (#3):
- Industries Qatar (IQ) (#23):
- Qatar Islamic Bank (QIB) (#27):
- Ooredoo Group (#30):
- Commercial Bank (#35):
- Masraf Al Rayan (#44):
- Dukhan Bank (#61):
- Qatar Fuel (WOQOD) (#65):
- Nakilat (#67):
- Qatar Electricity & Water Company (QEWC) (#74):
- Qatar International Islamic Bank (QIIB) (#75):
- Barwa Real Estate Group (#85):
- Doha Bank (#89):
- Ahlibank (#97):
- Mesaieed Petrochemical Holding Company (MPHC) (#98):
- Qatar Navigation (Milaha) (#99):
QNB Group (#3):
QNB (Qatar National Bank) is the largest bank in Qatar and one of the leading financial institutions in the Middle East and North Africa region.
- It was established in 1964 and is owned 51.9% by the Qatar Investment Authority.
- QNB Group has a presence in more than 28 countries across three continents.
- The Group CEO is Abdulla Mubarak Al-Khalifa.
Industries Qatar (IQ) (#23):
Industries Qatar is a Qatari joint stock company focused on industrial sectors.
- It was incorporated in 2003 and currently holds significant stakes in several companies in the petrochemicals and energy sectors.
- IQ owns 80% of the Qatar Petrochemical Company, 50% of the Qatar Fuel Additives Company Limited, and fully owns the Qatar Steel Company and the Qatar Fertilizer Company.
- The Chairman and Managing Director of Industries Qatar is Saad Sherida Al-Kaabi.
Qatar Islamic Bank (QIB) (#27):
Qatar Islamic Bank is a Shariah-compliant bank established in 1982.
- It operates 23 branches in Qatar and one branch in Sudan, with investments in the U.K. and Lebanon.
- QIB has stakes in several Qatari Shariah-compliant financial services companies, including QInvest, Beema, and Al Jazeera Finance.
- The Group CEO of QIB is Bassel Gamal.
Ooredoo Group (#30):
Ooredoo is the largest telecommunications company in Qatar, providing a wide range of mobile, fixed-line, broadband, and TV services.
- It was founded in 1949 as Qatar National Telecom Service and has grown to serve millions of customers.
- Ooredoo operates in multiple countries across the Middle East, North Africa, and Southeast Asia.
- The Managing Director and Group CEO of Ooredoo Group is Aziz Aluthman Fakhroo.
Commercial Bank (#35):
Commercial Bank is one of the leading banks in Qatar, offering a comprehensive range of banking services.
- It was established in 1974 and operates in Qatar, with a presence in Türkiye through its fully-owned subsidiary, Alternatif Bank.
- Commercial Bank also owns and operates the Diners Club franchise in Qatar and Türkiye.
- The Group CEO of Commercial Bank is Joseph Abraham.
Masraf Al Rayan (#44):
Masraf Al Rayan is a Shariah-compliant bank established in 2006.
It has a presence in Qatar, the U.K., the U.A.E., and France.
- In April 2022, Masraf Al Rayan launched its sustainable financing framework to offer ESG-linked funding opportunities to investors.
- The Group CEO of Masraf Al Rayan is Fahad Al Khalifa.
Dukhan Bank (#61):
Dukhan Bank was incorporated in 2008 under the name Barwa Bank and rebranded to Dukhan Bank in October 2020.
- It is a full-service Shariah-compliant bank and operates in Qatar.
- Dukhan Bank was listed on the Qatar Stock Exchange in February 2023 with a free float of 33.34% and a market cap valuation of $6.3 billion.
- The Acting Group CEO of Dukhan Bank is Ahmed Hashem.
Qatar Fuel (WOQOD) (#65):
Qatar Fuel, also known as WOQOD, is the sole fuel retailer in Qatar.
- It was founded in 2002 and operates a network of petrol stations in the country.
- WOQOD increased its operating stations to 128 in Q1 2023 and installed 10 electric charging points in cooperation with KAHRAMAA.
- The Managing Director and CEO of Qatar Fuel is Saad Rashid Al-Muhannadi.
Nakilat (#67):
Nakilat is a shipping and maritime company established in 2004.
- It plays a crucial role in Qatar’s Liquefied Natural Gas (LNG) supply chain, providing transportation services.
- Nakilat raised its non-Qatari ownership limit to 100% in March 2023.
- The CEO of Nakilat is Abdullah Al-Sulaiti.
Qatar Electricity & Water Company (QEWC) (#74):
QEWC was established to own and manage power generation and water desalination stations.
- It supplies up to 55% of Qatar’s electricity and up to 73% of the country’s water.
- QEWC is a significant contributor to Qatar’s energy and water infrastructure.
- The General Manager and Managing Director of QEWC is Mohammed Nasser Al-Hajri.
Qatar International Islamic Bank (QIIB) (#75):
QIIB is an Islamic bank that provides personal and corporate Islamic banking solutions.
- It operates across 17 branches in Qatar and has been expanding its presence internationally.
- In October 2022, QIIB established the Takaful Insurance Company in Morocco in cooperation with the Atlanta Insurance Company, CIH Bank, and Qatar Islamic Insurance Company.
- The CEO of QIIB is Abdulbasit Ahmed Al Shaibei.
Barwa Real Estate Group (#85):
Barwa Real Estate Group is involved in the real estate and construction sector.
- It obtained its commercial license in November 2005 and owns a significant land bank in Qatar.
- Barwa’s portfolio includes residential units, villas, warehouses, and workshops.
- The Group CEO of Barwa Real Estate Group is Abdulla Jobara Alromaihi.
Doha Bank (#89):
Doha Bank is a prominent bank in Qatar that offers a wide range of banking services.
- It serves more than 470,000 active customers and has a presence in several countries through its overseas branches and representative offices.
- In January 2023, Doha Bank launched its Q-Trade platform to allow customers to buy and sell stocks listed on the Qatar Stock Exchange.
- The Acting CEO of Doha Bank is Gudni Stiholt Adalsteinsson.
Ahlibank (#97):
Ahlibank is a Qatari bank that operates through a network of 14 branches and 89 ATMs across the country.
- It was established in 1983 as a public shareholding company.
- Ahlibank signed an enhanced Al Dhameen program agreement with the Qatar Development Bank in April 2022 to support SMEs and micro-enterprises in Qatar.
- The CEO of Ahlibank is Hassan Ahmed AlEfrangi.
Mesaieed Petrochemical Holding Company (MPHC) (#98):
MPHC, incorporated in 2013, operates in the petrochemicals and chlor-alkali segments.
- QatarEnergy is the founder of MPHC and holds a significant stake in the company.
- MPHC’s production facilities are mainly located in Qatar, and it holds stakes in Q-Chem I, Q-Chem II, and Qatar Vinyl Company Limited (QVC).
- The Chairman of MPHC is Ahmad Saif Al-Sulaiti.
Qatar Navigation (Milaha) (#99):
Milaha operates in various strategic business areas, including Maritime & Logistics, Capital, Gas & Petrochem, Marine & Technical Services, and Offshore Marine.
- It provides a range of services related to maritime transportation, logistics, and offshore support.
- In 2022, Milaha signed a significant contract with QatarEnergy for offshore projects.
- The Interim Group CEO of Qatar Navigation is Mohammed Abdulla Swidan.
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