Rank: 18
Masraf Al Rayan (MAR)
Date of Establishment: 2006
Country: Qatar
Group CEO: Adel Mustafawi
Sales: $1.4 billion
Profits: $599 million
Assets: $33.3 billion
Market Value: $9.1 billion
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. Adel Mustafawi has been its Group CEO since 2006.