Qatar First Bank to list shares in 2016, launches private banking

Qatar First Bank (QFB), a Shariah-compliant bank focused on private equity and investments, said that it will list shares on the Qatar exchange as early as the first quarter of 2016, the bank’s chairman, Abdullah Al Marri, was quoted as saying by Reuters at a news conference in Doha on Sunday.

In what would be only the second new listing in Qatar since 2010, QFB’s shares will only be listed to trade, not raise new money for the bank.

QFB also announced they were launching a private banking service.

"The investment climate is not going to be as hot or as bullish as when oil prices were at 100 dollars a barrel. People are looking for a bit more certainty and are staying away from speculative kinds of investments," said CEO Ziad Makkawi.

The bank is not moving away from private equity, just building upon it, Makkawi added.