The Qatar Central Bank (QCB) has adequate reserves to defend the Qatari riyal as its international reserves are twice the monetary base; indicating its ability to inject dollar liquidity.
The central bank governor was speaking during the final day of Euromoney 2017 and discussed some of the data related to the banking and financial sector in the State of Qatar.
International reserves and foreign currency liquidity stood at $45.8bn in May, before the diplomatic crisis erupted.
Residents with expired Qatar IDs can continue to transact business with financial institutions in Qatar for 90 days after the expiry date of their residence permits, according to a new policy issued recently by Qatar Central Bank.
Qatar, blockaded by three of its Gulf neighbours since June, is capable of supporting its banks with assets in the country’s vast sovereign wealth fund and foreign currency reserves, the central bank governor said.
Oman's central bank won't automatically imitate last week's interest rate hike by the US Federal Reserve, central bank executive president Hamood Sangour al-Zadjali told Reuters on Sunday.
Pakistan's "war on terror" has cost the developing country a whopping $118bn so far, a new central bank report has said, an amount equivalent to well over one third of its gross domestic product.
Saudi Arabia's central bank said on Sunday it had given commercial banks instructions to reschedule consumer loans of customers hit by recently announced austerity measures.
Rapidly rising foreign liabilities of commercial banks in Qatar will not be an “immediate concern” as those can be “easily covered” by the sizeable assets held by the central bank (QCB) and the Qatar Investment Authority (sovereign wealth fund), shows a report by The Economist Intelligence Unit.