12 Qatari-Listed Firms Among Forbes’ Top 100 Companies in Middle East

Doha, Qatar: Twelve Qatari firms were featured in the list of Top 100 Listed Companies in the Middle East during the year 2025 by Forbes magazine.

The following firms have made it to the ranking of top companies in their respective categories in June issue of Forbes Middle East: QNB Group (Rank 3), Group CEO – Abdulla Mubarak Al Khalifa; Qatar Islamic Bank (Rank 32), Group CEO – Bassel Gamal; Ooredoo Group (Rank 33), Group CEO – Aziz Aluthman Fakhroo; Industries Qatar (Rank 37), Chairman and Managing Director – Saad Sherida Al Kaabi; Commercial Bank (Rank 47), Group CEO – Joseph Abraham; Al Rayan Bank (Rank 50), Group CEO – Fahad Al Khalifa; Dukhan Bank (Rank 62) Acting Group CEO – Ahmed Hashem; Nakilat (Rank 72), CEO – Abdullah Al Sulaiti; Qatar International Islamic Bank (QIIB) (Rank 76) CEO – Abdulbasit Al Shaibei; Qatar Fuel (WOQOD) (Rank 79), Managing Director and CEO – Saad Rashid Al Muhannadi; Doha Bank (Rank 87) Group CEO – Abdulrahman bin Fahad Al-Thani; Ahlibank (Rank 100), CEO – Hassan Ahmed AlEfrangi.

Regarding the methodology, Forbes noted “We collected data from the main markets in the Arab stock exchanges and ranked the publicly listed companies based on their reported sales, assets, and profits for the financial year of 2024 and market value as of April 25, 2025. Each metric was given equal weight, and companies with the same final scores were given the same rank.

“We excluded companies that hadn’t disclosed their 2024 full-year audited financial statements as of April 25, 2025. Currency exchange rates were taken as of April 25,” it added.

It further noted that the GCC continues to dominate the list with 91 entries, led by the UAE with 33 entries, Saudi Arabia with 30, and Qatar with 12. The list also features 10 companies from Kuwait, four each from Morocco and Oman, three from Egypt, and two entries each from Jordan and Bahrain.

Banking and financial services is the most represented sector with 45 entries, followed by the industrials and telecommunications sectors with nine companies each. However, the energy sector, represented by six companies, continues to be the most profitable.

The 2025 list features five new companies, of which four are newly listed, including Oman’s OQ Exploration and Production (OQEP), Lulu Retail Holdings, Agility Global, and NMDC Energy. Saudi SABIC has rejoined the list, rebounding from a $102.5 million loss in 2023 to a $993 million profit in 2024.

MENA’s top 100 listed companies experienced a modest downturn last year, with aggregate net profit declining 1.2% to $237.4bn and market capitalisation decreasing by 3.6% to $3.5 trillion as of April 2025. However, aggregate sales for the 100 companies grew by 12.2% to $1.1 trillion, and assets hit $5.4 trillion compared to $4.9 trillion a year earlier, reflecting a 10.8% growth.