Established in 2006, Masraf Al Rayan is a Shariah-compliant bank with a presence in Qatar, the U.K., the U.A.E., and France. In April 2022, Masraf Al Rayan announced the launch of its sustainable financing framework to offer ESG-linked funding opportunities to investors. The bank completed its merger with the Al Khaliji Commercial Bank in 2021, marking the first merger of publicly-listed banks in Qatar. The bank’s total assets stood at $46 billion by the end of 2022. The Qatar Investment Authority owns 15.9% of the bank.