Armed with deep pools of liquidity, many Middle Eastern banks are exploring new avenues of growth, from expanding their regional presence to concentrating on innovation within the Islamic finance sphere.

Local banks in the Middle East have continued to perform strongly despite the global financial downturn. The strategies of three such institutions – state-owned National Bank of Abu Dhabi, local-owned Qatar National Bank and retail franchise Emirates NBD – help to explain such a strong performance.

Qatar is one of the world's richest countries, and its banks are enjoying profitable returns across the board. However, there are concerns that the tiny country's banking sector is overcrowded and has too many regulators, leading for calls for consolidation in both areas.

Qatar's successful bid to host the 2022 football World Cup is a testimony to the country's global ambitions. Development projects are already under way to fulfil stadia, hotel capacity and infrastructure requirements, giving a further boost to the country's already burgeoning economy.

Despite its small size, Qatar's energy resources are vast by global standards. However, its reliance on exporting its liquefied natural gas could face a threat in the shape of the emergence of shale gas in the US.

Qatar has gone from net borrower to being one of the fastest growing economies in the world, with a thriving banking sector. However, aware that such growth cannot go on for ever, the Qatari regulators and politicians are reassessing the country's financial systems.

Qatar's decision to ban conventional banks from operating sharia-based finance units within its financial jurisdiction has left observers concerned the central bank has set the wrong kind of precedent, one that is likely to create uncertainty in banking throughout the Middle East.

A swift government response to the international meltdown coupled with an economy based around strong fundamentals mean that Qatar's banking system is emerging from the financial crisis in better shape than most. Writer Stephen Timewell

The rapid expansion of Qatar's energy sector has given a huge boost to the country's economy - and the financial sector has been making the most of the opportunities presented by this activity. Writer Stephen Timewell

For Qatar to compete with London and New York as a financial centre, it needs to be supported by a local talent pool. Qatar Financial Centre chief executive Stuart Pearce highlights two initiatives that will help the country in this regard. Writer Brian Caplen