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16 Qatar Firms on Forbes Middle East’s Top 100 Companies 2023 : Complete Guide

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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):

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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Written by Saleh wasim

Blogger who writes topics such as Employment, News, travel, sports, events and life in Gulf.

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