Doha, Qatar: Dukhan Bank has announced a strategic partnership with Dibsy to support the advancement of Open Banking in the State of Qatar, reinforcing the Bank’s leadership in digital transformation and future-ready Islamic banking models.

Announced on the sidelines of Web Summit Qatar, the partnership reflects a shared commitment to fostering financial innovation and contributing to the development of a more open, efficient, and integrated financial sector aligned with national priorities.

Through its advanced banking infrastructure and digital capabilities, Dukhan Bank will support the development of Open Banking use cases that enhance connectivity across the financial ecosystem, while maintaining the highest standards of security, governance, and Shari’a compliance.

The collaboration aligns with the strategic direction of Qatar Central Bank and comes at a key milestone for Dibsy, which recently became the first company in Qatar to join the Express Regulatory Sandbox for Open Banking under the supervision of Qatar Central Bank, reflecting its readiness to develop and test advanced solutions within a regulated environment.

About Dukhan Bank:

Dukhan Bank was incorporated as a Qatari Shareholding Company in the State of Qatar under Commercial Registration No. 38012 dated 28 January 2008. Dukhan Bank commenced its activities on 1 February 2009 under Qatar Central Bank License No. RM/19/2007. The Bank and its subsidiaries are primarily engaged in financing, investing and advisory activities in accordance with Islamic Shari’ah rules as determined by the Shari’ah Committee of the Bank and provisions of its Memorandum and Articles of Association. Investment activities are carried out for proprietary purpose and on behalf of customers.

The Bank operates through its head office situated on Grand Hamad Street, Doha and its 9 branches in the State of Qatar. The Bank rebranded itself from Barwa Bank to Dukhan Bank during October 2020 post obtaining necessary approvals as per the State of Qatar applicable laws and regulations. The Bank is 24.6% owned by the General Retirement and Social Insurance Authority, 11.7% by the Military Pension Fund (Qatar), and 7.0% by Qatar Holding, strategic and direct investment arm of Qatar Investment Authority being the sovereign wealth fund of the State of Qatar; and remaining shares are owned by other shareholders.

On 22 January 2023, pursuant to Resolution No. 2 of 2023 by the Minister of Industry and Commerce, the Bank was converted from a Qatari Private Shareholding Company to a Qatari Public Shareholding Company. On 1 February 2023, Qatar Financial Markets Authority approved the listing of the Bank’s shares on the Qatar Stock Exchange.

Following the approval, trading of the Bank's shares on Qatar Stock Exchange Main Index commenced on 21st February 2023. The Bank was included under the MSCI emerging market index as of the close of 31st May 2023. On 15th September 2023, the Bank was included in the FTSE’s mid-cap index. QSE included the Bank to QE Index and QE Al-Rayan Islamic index effective from 1st October 2023.