Qatar and Oman pitch Middle East-backed financing for infrastructure projects in Global South
Qatar and Oman are encouraging the use of Middle East-backed financing, particularly Islamic instruments, to support key infrastructure projects in the Global South, officials from the Gulf states said. Accessing Shariah-compliant financial instruments would enable countries across Asia, Africa and Latin America to address funding gaps, Mansoor Al Khater, chief executive of the Qatar Financial…
Qatar and Oman are advocating for the use of Middle East-backed financing, particularly Islamic instruments, to aid infrastructure projects in the Global South, according to officials from the Gulf states. Mansoor Al Khater, CEO of the Qatar Financial Centre, addressed this at the Belt and Road Summit in Hong Kong. He emphasized that accessing Shariah-compliant financial instruments would help nations in Asia, Africa, and Latin America bridge funding gaps.
Al Khater noted that the Middle East, with its strong financial position, could serve as a regional hub to connect the Global South with Middle Eastern capital. He acknowledged that Islamic financing, while not as popular as conventional banking, holds significant potential. The industry, as highlighted in the latest ICD-LSEG Islamic Finance Development Report, grew by 21% year-on-year to reach $5.98 trillion in 2025.
Saudi Arabia leads as the world's largest issuer of sukuk, or Islamic bonds, constituting 17% of the global total. Muneer Al Muneeri, deputy president for operations at the Oman Investment Authority, highlighted the OIA's role in launching private equity investments in Uzbekistan, bolstering the Central Asian nation's financial system.
Currently, the OIA has investments in over 20 funds, facilitating transactions and technology transfers between the Global North and South.
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