Qatar Islamic Fintech market set to grow to $4bn by 2027: Report

Qatar’s Islamic Fintech market is projected to grow to $4 billion by 2027, according to the recently released Global Islamic Fintech (GIFT) Report 2023-2024.

The report says Qatar emerged as a significant player in the global Islamic Fintech arena with transaction volumes reaching $2.1 billion in 2022-2023,

It boasts a favourable ecosystem by positioning itself as a hub for innovation and investment in the Middle East, it added.

According to the report, the climb in Qatar’s Islamic Fintech market will underscore the sector’s remarkable growth trajectory.

Home to 24 of the 417 identified Islamic Fintech firms globally, the country ranks as the sixth largest hub of Islamic Fintech firms.

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