Dukhan Bank signs an exclusive agreement with Global Infrastructure Partners, a part of BlackRock

Doha, Qatar – Dukhan Bank has signed a strategic Memorandum of Understanding (MoU) with Global Infrastructure Partners (GIP), a part of BlackRock, marking a historic first for the Qatari banking sector. As the first bank in Qatar to formalize such a partnership, Dukhan Bank is set to reshape access to private market investments across the banking space.

The agreement, signed during an official ceremony in Doha, positions Dukhan Bank as the exclusive distributor of GIP’s Shariah-compliant private market products in Qatar’s consumer banking market. This collaboration reflects a shared vision to expand access to global private investment opportunities for high-net-worth individuals and corporate investors in the country to provide institutional-grade offerings and cater to the growing appetite among clients in Qatar for diversified, long-term investments.

Beyond distribution, the MoU lays the groundwork for joint product innovation tailored specifically for the Qatari market. By leveraging the combined expertise of GIP in global infrastructure, energy transition, and private market investing, the partnership will introduce a new generation of investment solutions designed to meet the evolving needs of investors in Qatar.

The partnership also extends to capacity building and knowledge sharing. Dukhan Bank and GIP will work side by side to launch a series of initiatives focused on training and skills development, all aimed at building a broader investor base and strengthening financial literacy.

H.E Sheikh Mohammed Bin Hamad Bin Jassim Al-Thani, Executive Board Member and Managing Director of Dukhan Bank, commented: “This agreement represents an important milestone for Dukhan Bank, marking a pivotal step in enhancing and diversifying our investment offerings. Through the introduction of exclusive, Sharia-compliant investment solutions in private banking, and in partnership with a trusted global firm like Global Infrastructure Partners (GIP), part of BlackRock, we are reinforcing our leadership and expanding the opportunities available to our clients.”

Mr. Ahmed I. Hashem, Acting Group Chief Executive Officer of Dukhan Bank, added: “This partnership is a defining moment for our bank. It reflects our ambition to bring the world’s most sophisticated private market solutions to our clients, while also investing in knowledge transfer and product innovation. We are proud to partner with GIP, a part of BlackRock, to open new doors for our community and to lead the next phase of growth in the banking sector.”

Mr. Simon Trautmann, Qatar Country Head of Global Infrastructure Partners stated: “We are pleased to deepen our longstanding relationship with Qatar through this partnership with Dukhan Bank. Qatar has been a valued partner to us over the years and we look forward to expanding access to GIP products and sharing expertise.”

The signing marks a significant step in Dukhan Bank’s strategy to expand its banking offerings and deepen engagement with its growing client base.

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’a rules as determined by the Shari’a 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.

About Global Infrastructure Partners (GIP):

Global Infrastructure Partners (GIP) is a leading global infrastructure investor managing over $100 billion in assets across the energy, transport, digital, and environmental infrastructure sectors. Founded in 2006, GIP invests in high-quality, large-scale infrastructure businesses that deliver essential services and long-term value. Its portfolio includes airports, ports, power generation, midstream energy, and data infrastructure across North America, Europe, Asia, and the Middle East. GIP is now part of BlackRock, following a landmark $12.5 billion acquisition in 2024, and recently announced the opening of its regional office in Qatar to support its growing presence in the Middle East.