Qatari Takaful Firms Record QAR 2.33 Billion in Assets in 2021 

Assets of Takaful companies in Qatar reached QAR 2.33 billion (USD 640 million) in 2021, compared to QAR 2.23 billion (USD 612 million) in 2020, recording a 4.4% growth year-on-year (YoY), according to the 5th Annual Report on Islamic Finance in Qatar by Bait Al Mashura Finance Consultations.

Why it Matters?

The Qatar Central Bank (QCB) oversees a number of insurance companies, including five independent Takaful firms, namely: Qatar Islamic Insurance Company, Alkhaleej Takaful Insurance Company, Damaan Islamic Insurance (Beema), General Takaful Company of the General Insurance and Reinsurance Company, and Doha Takaful Company of Doha Insurance Group. Also operating in the sector are five national domestic insurance companies and four branches of foreig...