Qatar has said its financial and monetary system is liquid, hence requiring no interference in the market to buy private debt, according to HE the Finance Minister Ali Sherif al-Emadi.
Moreover, the Qatar Central Bank (QCB) disclosed that deposits outflow was only less than $6bn since the crisis began, which was "insignificant", given the size of the domestic banking sector.
Expressing satisfaction on Qatar's position, investments and liquidity in its systems, the finance minister said "there is no need for the government to interfere in the market and purchase special bond."
Highlighting that Qatar's financial sector demonstrated its ability to maintain stability amidst the siege, he said economic diversification, strengthening foreign investments and raising the financial capabilities of Qatar acted as the mitigating factors.
Playing down apprehensions over the country's capital market, as 20-stock Qatar index fell 7.1% at the start of the crisis, al-Emadi said it is an understandable reaction but it was not a cause for concern since Doha has the required means to defend its economy and currency.
Qatar's investment funds and reserves account for more than 250% of gross domestic product (GDP), he said, reiterating that there is no reason to worry about the Qatari riyal, which has fixed exchange parity with the US dollar.
QCB Governor HE Sheikh Abdulla bin Saoud al-Thani recently said Qatar's economy is capable of enduring any financial shock caused by the siege imposed by four Arab countries, stressing that Qatar has enough liquidity to address any shocks.
"There is more money coming in, especially that Qatar's oil and gas exports did not stop despite the siege imposed by neighbouring countries, which provides dollar inflows to meet Qatar's needs of foreign currency," he said.
Sheikh Abdulla also said the long-term contracts signed by Qatar to supply oil and gas are sufficient to ensure continued liquidity without any problems.
Stressing that Qatari banks have strong capital and assets and good liquidity, he said "there is no cause for concern as only less than $6bn has left Qatar since the beginning of the crisis, which is "insignificant" given the size the banking sector in the country."
Quoting Moody's report, he said Qatar has a number of credit strengths and reaffirmed that the sizeable net asset position of the sovereign and "exceptionally high levels" of wealth would continue to provide "significant" support to the sovereign credit profile for the time being.
The resilience of the Qatari economy is supported by its strong financial position and solid financial fundamentals, he said, adding the banking sector is responding favourably to shocks; and the growing demand for credit from different sectors is not at risk.
Qatar Stock Exchange chief executive Rashid bin Ali al-Mansoori said the bourse strongly challenged the siege, as it has investors from 155 countries as well as hundreds of requests to open accounts in the Qatari market.
Although the index declined at the beginning of the siege due to the exit of some investment portfolios, he said this crisis also eased the entry of foreign investors, who were eager to get in due to its robustness, economic diversification, opportunities and attractive valuation.
Expressing satisfaction on Qatar's position, investments and liquidity in its systems, the finance minister said "there is no need for the government to interfere in the market and purchase special bond."
Highlighting that Qatar's financial sector demonstrated its ability to maintain stability amidst the siege, he said economic diversification, strengthening foreign investments and raising the financial capabilities of Qatar acted as the mitigating factors.
Playing down apprehensions over the country's capital market, as 20-stock Qatar index fell 7.1% at the start of the crisis, al-Emadi said it is an understandable reaction but it was not a cause for concern since Doha has the required means to defend its economy and currency.
Qatar's investment funds and reserves account for more than 250% of gross domestic product (GDP), he said, reiterating that there is no reason to worry about the Qatari riyal, which has fixed exchange parity with the US dollar.
QCB Governor HE Sheikh Abdulla bin Saoud al-Thani recently said Qatar's economy is capable of enduring any financial shock caused by the siege imposed by four Arab countries, stressing that Qatar has enough liquidity to address any shocks.
"There is more money coming in, especially that Qatar's oil and gas exports did not stop despite the siege imposed by neighbouring countries, which provides dollar inflows to meet Qatar's needs of foreign currency," he said.
Sheikh Abdulla also said the long-term contracts signed by Qatar to supply oil and gas are sufficient to ensure continued liquidity without any problems.
Stressing that Qatari banks have strong capital and assets and good liquidity, he said "there is no cause for concern as only less than $6bn has left Qatar since the beginning of the crisis, which is "insignificant" given the size the banking sector in the country."
Quoting Moody's report, he said Qatar has a number of credit strengths and reaffirmed that the sizeable net asset position of the sovereign and "exceptionally high levels" of wealth would continue to provide "significant" support to the sovereign credit profile for the time being.
The resilience of the Qatari economy is supported by its strong financial position and solid financial fundamentals, he said, adding the banking sector is responding favourably to shocks; and the growing demand for credit from different sectors is not at risk.
Qatar Stock Exchange chief executive Rashid bin Ali al-Mansoori said the bourse strongly challenged the siege, as it has investors from 155 countries as well as hundreds of requests to open accounts in the Qatari market.
Although the index declined at the beginning of the siege due to the exit of some investment portfolios, he said this crisis also eased the entry of foreign investors, who were eager to get in due to its robustness, economic diversification, opportunities and attractive valuation.