Qatar Launches World’s Largest Energy Bank with $ 10bn Capital

The founding committee announced the launch of the world’s largest energy bank (under construction) with the start of operations in the fourth quarter of 2019, with a targeted capital of $10bn.

This new economic initiative was announced on the sidelines of the 5th Doha Islamic Finance Conference by HE Khalid bin Ahmed Al Suwaidi, Chairman of the Energy Bank Founding Committee and Dr. Mohammed Saleh Al Marri, Chairman of the Bank’s Media Committee, at a press conference held at the Sheraton Hotel in Doha.

The Energy Bank will be a financial institution licensed by the Qatar Financial Center (QFC) to become the largest bank of its kind in the world with representation offices in a number of countries in the Middle East and North Africa region and other parts of the world. The bank, which is still under construction, will offer world-class banking investment services in the fields of oil, gas, petrochemicals and the renewable energy industry, in accordance with Islamic Sharia’a rules and regulations.

The bank has a team of energy and banking experts to provide a range of products and services that enable energy companies to meet the needs of growing local and regional markets. The bank will provide competitive and innovative products, corporate and project financing plans, as well as asset management services.

Source: Government of Qatar