The Qatar Central Bank (QCB) and the People’s Bank of China (PBOC) have signed an agreement to extend their local currency swap arrangement, aimed at promoting trade and direct investment between the two countries.
The agreement was signed by HE Sheikh Bandar bin Mohammed bin Saoud Al Thani, Governor of Qatar Central Bank, and Pan Gongsheng, Governor of the People’s Bank of China, on the sidelines of the 2026 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG), being held in Bangkok, Thailand, from October 12 to 18.
This marks the third extension of the local currency swap agreement between the two central banks. Originally signed in 2014, the agreement was first extended in 2017 and subsequently renewed in 2021.
The agreement aims to further promote trade and direct investment between Qatar and China.