The requirement of flexible allocation of available limited frequency resources led to rethink the possibilities to find an substitute to Orthogonal Frequency Division Multiplexing (OFDM) [1], which can also meet the necessities of future wireless communication. In this paper, we have compared one such alternative to OFDM, which is Filter Bank Multi Carrier (FBMC) [2] with Offset Quadrature Amplitude Modulator (OQAM) . The BER performance of OQAM based MIMO FBMC compared with QAM based MIMO OFDM for various channels conditions and using different prototype filters [3] for FBMC and under the influence of Timing Offset errors with perfect CSI and imperfect CSI. Implementation of MIMO into OQAM-FBMC has a computational complexity compared to MIMO OFDM and we have used block coded MIMO OQAM-FBMC for simulation. Three prototype filters RRC, Hermite and PHYDYAS are used to analyze the performance of OQAM-FBMC in relations of Signal to Interference Ratio under time offset and found that performance of PHYDYAS prototype filter outperforms RRC and Hermite prototype filters.