Business insurance · Qatar
Beema (Damaan Islamic Insurance)
Qatari takaful insurer with an itemised engineering and construction line
Market position
Damaan Islamic Insurance Company (Beema) is a takaful insurer established in 2009 and licensed by the Qatar Central Bank; its founders include QIC, Qatar National Bank, Barwa, QInvest and QIB, and it has been listed on the Qatar Stock Exchange since January 2023. Its engineering page lists Contractors All Risks, an Annual Contractor All-Risk policy covering small civil and maintenance contracts up to QAR 5 million each, Erection All Risk, Electronic Equipment and Machinery Breakdown cover.
Qatar-specific note
Beema's Annual Contractor All-Risk policy automatically covers small civil engineering and maintenance contracts up to QAR 5 million in any one contract, which suits maintenance and fit-out firms running many small jobs. Contractors who need takaful (Islamic) cover can place CAR, EAR and plant cover with Beema.
Pros
- + Annual CAR policy automatically covers small contracts up to QAR 5 million each
- + Contractors All Risks includes third-party liability at the site
- + Takaful (Islamic) insurance structure
- + Erection All Risk, Electronic Equipment and Machinery Breakdown cover also offered
Cons
- − No public premiums; quote only
- − Workmen's compensation not listed on the engineering page
Typical Qatar pricing
Quote-based; no public prices on Beema's engineering insurance page.
Why this matters for Qatar trades
The Ministry of Finance’s Monaqasat portal requires classification, with an audited balance sheet, before a company can take part in government tenders. The General Tax Authority administers income tax (10%), withholding tax and excise tax through its Dhareeba portal; Qatar has no VAT as of September 2026, and EY reports that the GTA will run e-invoicing under the draft law. Law No. 12 of 2024 requires employers to report vacancies and salaries to the Ministry of Labour and to fill designated jobs with Qatari nationals. The Ministry of Municipality issues building permits through an AI-based system launched in October 2025; QCS 2014 applies to all buildings under construction, according to The Peninsula, with Ashghal adding Interim Advice Notes on its own projects; and Kahramaa publishes lists of authorized electrical and water contractors and licenses solar PV contractors.
Qatar construction and trades software selection is shaped by Monaqasat classification for government tenders, the Qatar Construction Specifications (QCS 2014), Ashghal’s tendering and prequalification for public works, the Qatarization law (Law No. 12 of 2024), and the tax position: Qatar has not introduced VAT, and a draft e-invoicing law approved on 6 May 2026 had no official go-live date by 30 September 2026.
Frequently asked
Is Beema (Damaan Islamic Insurance) a good fit for Qatar trades?
Damaan Islamic Insurance Company (Beema) is a takaful insurer established in 2009 and licensed by the Qatar Central Bank; its founders include QIC, Qatar National Bank, Barwa, QInvest and QIB, and it has been listed on the Qatar Stock Exchange since January 2023. Its engineering page lists Contractors All Risks, an Annual Contractor All-Risk policy covering small civil and maintenance contracts up to QAR 5 million each, Erection All Risk, Electronic Equipment and Machinery Breakdown cover. Beema's Annual Contractor All-Risk policy automatically covers small civil engineering and maintenance contracts up to QAR 5 million in any one contract, which suits maintenance and fit-out firms running many small jobs. Contractors who need takaful (Islamic) cover can place CAR, EAR and plant cover with Beema.
What does Beema (Damaan Islamic Insurance) cost in Qatar?
Quote-based; no public prices on Beema's engineering insurance page. Pricing and availability can change by region; confirm current Qatar pricing on the vendor's site before committing.