Qatar Central Bank (QCB) issued government bonds and sukuk on behalf of the Ministry of Finance, totaling QAR5 billion ($1.4 billion).
The issuances included tenors of 2.14 years, 4.14 years, and 6.14 years. On its X platform, QCB announced that the breakdown of the issuances comprised QAR1 billion for a 2.14-year term (Tap Issue) at an interest rate of 4.40 percent, QAR2 billion for a 4.14-year term (Tap Issue) at an interest rate of 4.40 percent, and QAR2 billion for a 6.14-year term (Tap Issue) at an interest rate of 4.50 percent. Total bank bids for these government bonds and sukuk reached QAR10.7 billion ($2.93 billion), as reported by Qatar News Agency (QNA).
In December 2024, Qatar’s Ministry of Finance announced the listing of green bonds on the UK’s London Stock Exchange. Minister of Finance H.E. Ali bin Ahmed Al Kuwari participated in the ‘Ring the Bell’ event at the exchange during his visit to the United Kingdom. During this event, trading of the green bonds commenced, marking the successful launch of the ministry’s first green bond issuance in May of this year. Qatar’s Ministry of Finance introduced these green bonds to finance environmentally friendly projects.
Projected growth in Qatar’s debt capital market
Qatar’s debt capital market issuance is projected to grow steadily and exceed $150 billion in the medium term, according to Fitch Ratings in its latest report released in May 2025. Sukuk, ESG, and Qatari riyal market penetration are on an upward trend, and the potential development of digital government bonds may enhance the market’s depth and sophistication.
However, the debt capital market continues to face several long-standing structural gaps. Qatar ranks as the third-largest debt capital market source among the GCC countries, with a 13 percent regional share outstanding as of April 2025. The market expanded by 8 percent to reach $131.8 billion outstanding, predominantly driven by the sovereign at nearly 60 percent, followed by banks at 26 percent and corporates at 14 percent.
The sukuk share of Qatar’s debt capital market increased to 16.9 percent outstanding, rapidly expanding by 68 percent annually to reach $22 billion outstanding at the end of April 2025. Nevertheless, sukuk issuance during this period fell by 86 percent, while bonds decreased by 18 percent.
