Qatar's Top 30 Companies
Fri 05 Sep 2014 01:51 PM
Masraf Al Rayan
6

Masraf Al Rayan

Industry: Finance

Designation: Adel Mustafawi, group CEO

Masraf Al Rayan is Qatar’s biggest Islamic bank, and the country’s second-biggest lender overall. In January, the bank said it had completed the purchase of Islamic Bank of Britain, although it did not disclose the financial terms of the deal. In July, Masraf Al Rayan sold its 50 percent stake in Seef Lusail Real Estate Development Company to Qatari Diar for $420m. Its second-quarter net profit rose by 12.1 percent to $129m, beating analysts’ expectations.