There were no net outflows of funds from Qatar’s banking sector in November, the head of economics at Qatar National Bank, the country’s largest bank, said yesterday.
Rory Fyfe told an international business conference that net outflows had now ceased. He also predicted the non-hydrocarbon part of Qatar’s economy would grow 4.5% this year.
Outflows from banks have decreased in recent months as Gulf depositors have run out of remaining funds to withdraw, and as Qatari banks have found new sources of foreign money.
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