Qatar Central Bank's international reserves and foreign currency liquidity rose slightly in December, official data showed.
The Qatar Central Bank (QCB) is encouraging financial institutions to provide financial products and services without minimum balance or charges as part of greater national financial inclusion.
The major thrust of SSP, which is an improvement over the first strategic plan of 2013-16, is to create a regulatory framework that fosters growth.
Faster expansion in domestic deposits largely mitigated the weakening overseas inflows, helping Doha's banking sector register a healthy more than 17% growth in total deposit mobilisation to QR794.28bn, according to the Qatar Central Bank figures.
Qatar has been successfully able to deal with the blockade with minimal impact as the Qatar Investment Authority (QIA) and Qatar Central Bank (QCB) intervened to support the country's banking system, a top official said Wednesday.
The Qatar Central Bank (QCB) has dispelled apprehensions of investors in the Qatar Stock Exchange (QSE) over MSCI’s proposed move as it will guarantee an exchange rate equivalent to the Qatari official onshore rates.
Price pressures in Qatar will “remain manageable,” BMI Research said and noted the government will continue to absorb added import costs linked to the reorganisation of supply chains, which is necessitated by some GCC countries' blockade against the country.
Continued credit demand for financing infrastructure projects for FIFA 2022 will provide ample opportunities for Qatar’s banking sector, the Qatar Central Bank said, but cautioned the lenders to “manage their funding profile so that the profitability remain intact.”
Qatar has $340bn in reserves that could help the country to weather the isolation by the siege countries, Qatar Central Bank Governor HE Sheikh Abdullah bin Saoud al-Thani said.