Qatar ranks sixth globally in islamic fintech sector: reports
The Peninsula
Doha, Qatar: Qatar has ranked sixth worldwide as the largest hub for Islamic financial technology, according to the Global Islamic Fintech (GIFT) Repo...
Doha, Qatar: Qatar has ranked sixth worldwide as the largest hub for Islamic financial technology, according to the Global Islamic Fintech (GIFT) Report 2025-2026.
The report estimates the size of Qatar's Islamic fintech market at $3.1 billion in 2024-2025 and projects it will grow at a compound annual rate of 9% to reach $4.8 billion by 2029.
Published by DinarStandard and Elipses, in collaboration with the Qatar Financial Center Authority (QFC), the report also places Qatar seventh globally in an index measuring the most conducive environments for the sector.
QFC's Chief Financial Services Sector Officer, Henk Jan Hoogendoorn, said the center continues to foster a supportive business environment in line with the country's Third Financial Sector Strategy, aimed at enhancing access to digital financial services.
Globally, the report forecasts that Islamic fintech across member states of the Organisation of Islamic Cooperation will expand by 11.5% annually. The total global market is projected to grow from $198 billion in 2024 to around $341 billion by 2029.
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