Best banks in Qatar

Some of the best banks in Qatar are the Commercial Bank of Qatar, Qatar National Bank, and Al Rayan.

The Qatar Central Bank regulates and oversees many local and foreign banks operating in Qatar. Local banks dominate Qatar’s banking industry, historically maintaining strong credit ratings.

Most websites or apps linked below are in Arabic or English. Use Google Translate, Tarjimly, or any other translation service if you need it.

The national currency in Qatar is the Qatari Riyal. Ten Qatari Riyals is 2.7 US Dollars or 2.5 Euros. That is 225 Indian Rupees or almost 19 Chinese yuan.

How to choose a bank in Qatar

When choosing a bank in Qatar, there are several factors to consider.

Reputation and stability

Qatar’s banking system has remained stable and efficient, thanks in part to the central bank’s strong regulatory structure, despite the substantial external exposure of many Qatari banks.

Products and services

Size of the bank

Fees

Most Qatari banks offer their services at reasonable fees. Fees vary a lot depending on the bank, so explore them accurately.

Customer Service

Security

Considering these factors, you can narrow your options and choose a bank that meets your financial needs.

List of best banks in Qatar

Some of the most popular banks in Qatar are the following.

National banks in Qatar

The following national banks are present in Qatar.

Qatar National Bank (QNB) is the largest bank in Qatar and one of the largest financial institutions in the Middle East, offering a wide range of banking services to individuals and businesses.

You can explore their product and services on QNB Qatar, where you can find their fees or tariffs of charges.

Commercial Bank of Qatar (CBQ) is one of the oldest banks in Qatar and offers a range of personal and corporate banking services, wealth management, and investment services. 

You can explore their product and services on CQB, where you can find their fees.

Doha Bank is a full-service commercial bank that provides retail banking, corporate banking, and investment services to customers in Qatar and other countries.

You can explore their product and services on Doha Bank, where you can find their fees.

Al Khaliji Bank is a Qatari-owned bank that offers retail and corporate banking services and treasury and investment services.

Qatar Development Bank supports SMEs in Qatar by providing financing, resources, and advisory services to promote entrepreneurship and innovation.

Ahlibank is a Qatari-owned bank that provides a range of personal and business banking services and investment and insurance products.

Islamic banks in Qatar offer Sharia-compliant banking services to both Muslims and non-Muslims.

Masraf Al Rayan is the second-largest Islamic bank in Qatar, established in 2006, offering Sharia-compliant financial solutions such as retail and corporate banking, treasury services, and investment banking.

You can explore their product and services on Masraf Al Rayan, where you can find their fees.

Qatar International Islamic Bank (QIIB) is a privately-owned Islamic bank founded in 1991, providing Sharia-compliant personal and business finance, home finance, and investment solutions.

Qatar Islamic Bank (QIB) is Qatar’s top Islamic bank and second-largest by assets, offering Sharia-compliant banking and investment services.

Dukhan Bank is Qatar’s leading Shari’ah-compliant bank formed from the merger of Barwa Bank and International Bank of Qatar, offering innovative banking experiences.

International banks in Qatar

The following international banks are present in Qatar.

Arab Bank Qatar was established in 1957. Ara Bank Qatar is a subsidiary of the Jordan-based Arab Bank.

You can explore their product and services on Arab Bank Qatar, where you can find their fees.

Mashreq Bank Qatar is a branch of Mashreq, one of the oldest banks in the United Arab Emirates.

HSBC Bank Middle East has served the region since 1954, offering diverse financial services to individuals and businesses.

BNP Paribas has operated in Western Asia and Africa for a long time. 

Bank Saderat Iran in Qatar is a branch of Bank Saderat Iran, which is based in Iran.

Standard Chartered Qatar has offered personal banking, wealth management, and business banking services for a long time.

How to find a cash machine in Qatar

Talk to anyone who may have traveled or worked in Qatar. You will find that some of your friends or family know the nearest bank branches. Ask around and find opportunities among your contacts. An easy tool for doing that is any map app. Below is, for example, a Google Maps search for ‘ATMs near Qatar’.

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Sources: Wall Street Mojo,

The caption of the cover image above is the Museum of Islamic Art, Doha, Qatar. Photo by Eea Ikeda on Unsplash.