Qatar’s adults remained among the region’s richest people across Asia in 2016, holding an estimated $161,666 – the highest in the Middle East and North Africa, but down 0.4% ($600) since 2015. The overall value of Qatar’s household wealth increased to $210 billion by June this year, compared to $203 billion last year.
But banks are still tapping deeper into the lucrative market. Global banks are aware that Qatar has not only wealth cash-rich locals, but they are also targeting wealthy individuals in the city-state who are from all across MENA, including Iraq, Syria, the UAE and Iran. BNP Barclays, BNP Paribas, HSBC and other global banks are hiring more, building their technology base in the region, and implementing strategic plans to acquire more market share in the market.
But local banks in the region still have a major advantage on the market, not only because they have more staff and a strong set of stable executives, but also because of their extensive knowledge of the market and regional MENA countries. Qatar National Bank, Doha Bank, and Qatar Islamic Bank are continuing to improve their wealth succession practices, expanding their product selections, and improving their overall services for their HNWI and UHNWI clientele.
This report is completed by two surveys: The first survey interviews 100 HNWI throughout Qatar learn their needs, their changes, and how they view wealth management in Qatar. The second survey interviews 10 major banks in Qatar to learn about emerging trends in wealth management in Qatar and the country’s competitive landscape.
The report also ranks the banks from best to worst based on customer service, product selection, international expertise, and advisory services.
Table of contents
2. The Dragon Banker’s methodology
3. The Current State of the Wealth Management Market in Qatar
4. Current Insights into the Drivers of Qatar HNWIs’ Wealth
5. Note on Regulations Impacting Qatar’s Wealth Management
6. The Psychological and Behavior Makeup of Qatar HNWIs
7. Market Sizing of Qatar’s HNWI
8. Current Competition Amongst Banks for HNWI Clients and SWOT
A. Qatar National Bank
B. Commercial Bank of Qatar
International Bank of Qatar
C Al Ahli Bank of Qatar
D. Mashreq Bank Qatar
E. Doha Bank
Qatar Islamic Bank
G. Al Khaliji BANK
H. Standard Chartered Bank Qatar
9. How to leverage The Dragon Banker for IT firms and Financial Institutions