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Qatar’s Top Companies: 16 listed in Forbes’ Middle East Rankings

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In a recent publication by Forbes Middle East, it was revealed that 16 Qatari-listed companies have secured positions among the top 100 companies in the region. Despite facing challenges such as high inflation and global instability, these Qatari businesses have shown remarkable resilience, with increased net income and profits compared to the previous year. The banking and financial services sectors, in particular, have demonstrated significant dominance within this prestigious list.

1. Qatar National Bank (QNB Group)

  • Sector: Banks & Financial Services
  • Group CEO: Abdulla Mubarak Al-Khalifa
  • Market Value: $38.8 billion
  • Sales: $18.4 billion
  • Profits: $4 billion
  • Assets: $326.7 billion

Founded in 1964, Qatar National Bank (QNB) stands as the largest bank in Qatar, boasting a wide-ranging presence across 28 countries spanning three continents. With 51.9% ownership by the Qatar Investment Authority, QNB serves over 27 million customers and employs 28,000 individuals.

2. Industries Qatar (IQ)

  • Sector: Industrials
  • Chairman and Managing Director: HE Saad Sherida Al-Kaabi
  • Market Value: $21.5 billion
  • Sales: $5.2 billion
  • Profits: $2.4 billion
  • Assets: $12.4 billion

Established in 2003, Industries Qatar (IQ) holds significant stakes in various sectors, including petrochemicals, fuel additives, steel, and fertilizers. With notable investments and strategic agreements, IQ continues to play a pivotal role in Qatar’s industrial landscape.

3. Qatar Islamic Bank (QIB)

  • Sector: Banks & Financial Services
  • Group CEO: Bassel Gamal
  • Market Value: $11.6 billion
  • Sales: $2.5 billion
  • Profits: $1.1 billion
  • Assets: $50.5 billion

Since its inception in 1982, Qatar Islamic Bank (QIB) has been a cornerstone of Shariah-compliant banking in Qatar and beyond. With a network of branches and strategic investments, QIB remains steadfast in providing innovative financial solutions.

4. Ooredoo Group

  • Sector: Telecommunications
  • Managing Director and Group CEO: Aziz Aluthman Fakhroo
  • Market Value: $8.4 billion
  • Sales: $6.2 billion
  • Profits: $758 million
  • Assets: $17 billion

As the leading telecom company in Qatar, Ooredoo Group continues to expand its services and reach, catering to a customer base of 56 million. With a legacy dating back to 1949, Ooredoo remains at the forefront of technological innovation and connectivity.

5. Commercial Bank

  • Sector: Banks & Financial Services
  • Group CEO: Joseph Abraham
  • Market Value: $6.5 billion
  • Sales: $2.6 billion
  • Profits: $772 million
  • Assets: $46.5 billion

Established in 1974, Commercial Bank has evolved into a prominent financial institution in Qatar and beyond. With diversified services and strategic partnerships, Commercial Bank continues to drive economic growth and financial inclusion.

6. Masraf Al Rayan

  • Sector: Banks & Financial Services
  • Group CEO: Fahad Al Khalifa
  • Market Value: $6.7 billion
  • Sales: $2 billion
  • Profits: $375 million
  • Assets: $46 billion

As a Shariah-compliant bank, Masraf Al Rayan has positioned itself as a leader in ethical banking practices. With a focus on sustainability and innovation, Masraf Al Rayan continues to expand its footprint globally.

7. Dukhan Bank

  • Sector: Banks & Financial Services
  • Acting Group CEO: Ahmed Hashem
  • Market Value: $4.6 billion
  • Sales: $1.3 billion
  • Profits: $344 million
  • Assets: $29.2 billion

Formerly known as Barwa Bank, Dukhan Bank has emerged as a prominent player in Qatar’s banking sector. With a commitment to Shariah-compliant principles and customer-centric services, Dukhan Bank is poised for continued growth and success.

8. Qatar Fuel (WOQOD)

  • Sector: Retail
  • Managing Director and CEO: Saad Rashid Al-Muhannadi
  • Market Value: $4.5 billion
  • Sales: $8.2 billion
  • Profits: $303 million
  • Assets: $4 billion

Established in 2002, Qatar Fuel (WOQOD) serves as the sole fuel retailer in Qatar. With a focus on sustainability and innovation, WOQOD continues to diversify its services and enhance its customer experience.

9. Nakilat

  • Sector: Logistics
  • CEO: Abdullah Al-Sulaiti
  • Market Value: $6 billion
  • Sales: $1.2 billion
  • Profits: $395 million
  • Assets: $8.8 billion

Since its establishment in 2004, Nakilat has been a key player in Qatar’s maritime industry, facilitating the transportation of liquefied natural gas (LNG) across the globe. With a modern fleet and

strategic partnerships, Nakilat remains a cornerstone of Qatar’s energy sector.

10. Qatar Electricity & Water Company (QEWC)

  • Sector: Utilities
  • General Manager and Managing Director: Mohammed Nasser Al-Hajri
  • Market Value: $5.1 billion
  • Sales: $748 million
  • Profits: $481 million
  • Assets: $7.6 billion

As a vital utility provider in Qatar, Qatar Electricity & Water Company (QEWC) plays a crucial role in ensuring the nation’s energy security and sustainability. With a commitment to excellence and innovation, QEWC continues to meet the growing demand for electricity and water.

11. Qatar International Islamic Bank (QIIB)

  • Sector: Banks & Financial Services
  • CEO: Abdulbasit Ahmed Al Shaibei
  • Market Value: $4 billion
  • Sales: $761 million
  • Profits: $295 million
  • Assets: $15.5 billion

Since its establishment in 1990, Qatar International Islamic Bank (QIIB) has been a pioneer in Islamic banking solutions, catering to the diverse needs of its customers. With a focus on ethical practices and sustainable growth, QIIB remains a trusted financial partner in Qatar and beyond.

12. Barwa Real Estate Group

  • Sector: Real Estate & Construction
  • Group CEO: Abdulla Jobara Alromaihi
  • Market Value: $2.7 billion
  • Sales: $710 million
  • Profits: $316 million
  • Assets: $11 billion

With a strong presence in Qatar’s real estate sector, Barwa Real Estate Group continues to develop innovative projects that contribute to the nation’s urban landscape. Through strategic investments and sustainable practices, Barwa remains committed to driving growth and prosperity.

13. Doha Bank

  • Sector: Banks & Financial Services
  • Acting CEO: Gudni Stiholt Adalsteinsson
  • Market Value: $1.3 billion
  • Sales: $1.3 billion
  • Profits: $210 million
  • Assets: $26.8 billion

As one of the oldest banks in Qatar, Doha Bank has established itself as a trusted financial institution, serving a diverse clientele both domestically and internationally. With a focus on innovation and customer satisfaction, Doha Bank continues to lead the way in the banking sector.

14. Ahlibank

  • Sector: Banks & Financial Services
  • CEO: Hassan Ahmed AlEfrangi
  • Market Value: $2.7 billion
  • Sales: $630 million
  • Profits: $212 million
  • Assets: $13.3 billion

Since its establishment in 1983, Ahlibank has been a key player in Qatar’s banking industry, offering a wide range of financial products and services. With a commitment to excellence and customer-centric values, Ahlibank continues to drive growth and innovation in the sector.

15. Mesaieed Petrochemical Holding Company (MPHC)

  • Sector: Petrochemicals
  • Chairman: Ahmad Saif Al-Sulaiti
  • Market Value: $6.8 billion
  • Sales: $490 million
  • Profits: $485 million
  • Assets: $4.9 billion

Since its inception in 2013, Mesaieed Petrochemical Holding Company (MPHC) has been a leading player in Qatar’s petrochemical industry, contributing to the nation’s economic growth and development. With a focus on sustainability and efficiency, MPHC continues to set industry standards and drive innovation.

16. Qatar Navigation (Milaha)

  • Sector: Logistics
  • Interim Group CEO: Mohammed Abdulla Swidan
  • Market Value: $2.9 billion
  • Sales: $903 million
  • Profits: $279 million
  • Assets: $5 billion

As a key player in Qatar’s maritime and logistics sector, Qatar Navigation (Milaha) plays a vital role in facilitating trade and commerce both domestically and internationally. With a diversified portfolio and strategic investments, Milaha remains a cornerstone of Qatar’s economic success.

In conclusion, the presence of 16 Qatari-listed firms among Forbes’ top 100 companies in the Middle East is a testament to Qatar’s vibrant and resilient economy. With continued investments, innovation, and strategic planning, these companies are poised to further enhance Qatar’s position as a regional economic powerhouse.

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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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