Masraf Al Rayan (MAR)
Rank: 5
Sector: Banks & Financial Services
Date of establishment: 2006
Market value: $10.2 billion
Name: Fahad Al Khalifa
Designation: Group CEO
MAR is a Shariah-compliant bank with 17 branches in Qatar and five in the U.K. through its subsidiary, Al Rayan Bank PLC. The Qatar Investment Authority and Qatar Armed Forces Investment Portfolio are the largest shareholders in the company. MAR entered into a merger agreement with Al Khalij Commercial Bank to form an entity with combined assets worth around $47 billion as of the end of September 2020. MAR’s net profits hit $473 million in the first nine months of 2021; a 3.5% increase compared to the same period in 2020.