Best private bank: Qatar National Bank
With a market share of over 30%, Qatar National Bank has a strong presence in the country, having enhanced its investment opportunities and digital banking solutions.
Dedicated private bankers are available 24/7 to clients, ensuring easier, faster and more efficient daily management of their multi-currency accounts, deposits, loans, e-banking and investments.
The bank has developed a leading platform where clients can invest in equity, fixed-income, structured products, real estate and commodities. These can be combined into a portfolio to create value-adding investment solutions based on the client’s risk profile. Clients can trade local, regional and international stocks and bonds, benefiting from the bank’s world-class research and analysis.
In the digital sphere, the bank has extended the reach of its self-service channels. A new chatbot feature assists clients with a range of services, such as viewing their balance, managing their cards, paying bills and transferring funds. A further innovation is the launch of WhatsApp Banking, giving clients the option to contact an agent to answer their enquiries.
Best pure play/boutique private bank: Julius Baer
Julius Baer has significantly expanded its presence and customer engagement in Qatar, backed by a knowledgeable team of 10 relationship managers and investment advisers at the bank’s advisory office in Doha.
Working closely with its Shariah board, the bank offers a comprehensive suite of Islamic wealth management products, customisable to meet client requirements.
In partnership with Qatar Foundation’s WISE initiative, the bank supports youth and community development, focusing on community programmes, promoting local art and artists, and advancing informal learning opportunities.
As a proud sponsor of Doha Learning Days, which focuses on grassroots financial literacy, the bank recently organised financial literacy workshops for students aged 16-18 in Doha. The bank also collaborated with Qatar Financial Centre to run the Family Business Community Retreat, a programme that explores the latest trends and priorities in intergenerational wealth transfer.
The bank also sponsors the D’reesha Performing Arts Festival, reflecting its commitment to promoting cultural development and community-building. In addition, the bank celebrated local culture by commissioning Qatari artist Aisha Al Abdulla for the first non-Swiss artwork in its art collection.
Best for digital solutions: Dukhan Bank
Dukhan Bank offers clients a convenient and seamless banking experience through its advanced digital tools.
With the launch of an advanced mobile app, the bank has expanded its digital banking tools to include utility bill payments, stock trading, international fund transfers, and Western Union services.
In an industry-first among Qatari banks, Dukhan Bank has unveiled a new digital tool: a self-service feature that assists customers to track their investment portfolios with ease, while providing real-time reporting and analysis on portfolio performance.
The bank delivers an omni-channel experience to its clients, giving them the possibility to book flights and car rentals via mobile banking. A newly improved rewards programme allows clients to earn and redeem points through various banking activities, helping to boost engagement and loyalty among customers.
The app also features an AI-powered virtual assistant to help clients with inquiries and transactions, enhancing user engagement and satisfaction.
Best for HNW: Qatar Islamic Bank
With its comprehensive offering for high-net-worth (HNW) clients, Qatar Islamic Bank has achieved significant growth in market share.
Serving over 20,000 wealth management clients and enjoying a 25% market share, the bank saw deposits in this segment grow by 7% between December 31, 2023 and September 30, 2024 to reach QAR39.1 billion ($10.7 billion).
To foster stronger relationships and trust with clients, the bank enhanced its existing suite of communication channels – audio calls, text messages, co-browsing, virtual document sharing and e-signatures – to include video banking services exclusively for wealth management clients.
Clients can also benefit from access to the bank’s mobile banking app, which boasts over 100 features.
Qatar Islamic Bank has expanded its wealth management team by recruiting relationship managers with extensive investment knowledge, offering wealth management clients a customised suite of banking, investment and other financial services.
A wide array of investment opportunities is available to clients, including structured products, club deals and private equity.
Best for sustainability: AlRayan Bank
AlRayan Bank has demonstrated strong commitment to sustainable finance through new strategic initiatives and product offerings.
Guided by global ESG standards and Sharia-compliant principles, the bank’s environmental policy focuses on sustainable finance, green innovation and measurable environmental impact. The foundation of this policy is the bank’s sustainable finance framework, validated by the S&P rating agency.
Key elements of the policy include the introduction of innovative green financial products, such as Qatar’s first Sharia-compliant green deposit, as well as a green vehicle finance solution that promotes eco-friendly transportation solutions.
In alignment with Qatar Central Bank’s fintech strategy, AlRayan Bank launched Qatar’s first technical sandbox to foster sustainable financial innovation in 2024. The bank also inaugurated its NEXT innovation lab in 2024, which explores new ways to make a positive environmental impact.
A recent initiative launched by the lab was themed The Role of Innovation and Technology in ESG, and hosted a panel of technology experts who shared their insights into digital solutions that enhance ESG practices.
The bank also strictly avoids financing projects that conflict with ESG principles, such as high-carbon industries and unethical practices.
Best for UHNW: Qatar National Bank
Qatar National Bank has demonstrated significant growth and innovation, enhancing its ultra-high-net-worth (UHNW) client services and expanding its market presence.
The bank’s client base reached 1,400 clients by the end of the review period, up 8% year-on-year. The bank strengthened its alternative investments offering, which gives UHNW clients the opportunity to invest in private equity, real estate and commodities.
Customers can also turn to the bank for special financing of their high-value purchases, such as high-end residential and commercial properties. The bank’s private bankers liaise on behalf of UHNW clients with reputable international real estate agencies, providing exclusive and personalised advisory services for purchasing or renting properties in Europe or other locations, whether for personal use or investment purposes.
UHNW clients have access to a generous rewards programme, made possible by collaborations between the bank and its luxury partners. In addition to this, customers can indulge in a series of exclusive privileges in the realms of art, fashion, travel and more.
