24 March 2021: Qatar’s Islamic Fintech market to reach $2bn by 2025
The prospects for Islamic Fintech sector in Qatar are bright and the sector is set to witness robust growth in coming years. The Islamic Fintech market size in Qatar is projected to grow at a Compound Annual Growth Rate (CAGR) of 19.6 percent to reach $2bn by 2025, according to report by the Global Islamic Fintech Report 2021. Qatar has also ranked among top 10 countries in the Global Islamic Fintech (GIFT) Index, which is part of the report.
The Index represents countries that are most conducive to the growth of Islamic fintech market and ecosystem in their jurisdictions. The Islamic Fintech market in Qatar was around $849m at the end of last year. The report has considered Qatar’s market as fast maturing ecosystem.
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