tag

The Qatar Stock Exchange (QSE) general index declined 33.99 points, or 0.31%, at the beginning of Wednesday's trading session, falling to 10,787 points compared to the previous session's close. The decline was mainly driven by losses across four sectors. Leading the downturn was the transportation sector, which fell 0.93%, followed by Banks and Financial Services (-0.53%), Telecoms (-0.37%), and Real Estate (-0.16%). In contrast, gains were recorded in the Consumer Goods and Services sector (+0.48%), Industrials (+0.11%), and Insurance (+0.02%). By 10:00 am, QSE reported a turnover of QR 46.826 million, with 23.107 million shares traded across 2,914 transactions.

Israel launched dozens of deadly strikes in Gaza Sunday, after accusing the resistance group Hamas of attacking its troops, in the worst violence since the start of a ceasefire nine days ago.Gaza's civil defence agency, which operates under Hamas authority, said at least 33 people had been killed across the territory.Hamas denied the accusations, with one official accusing Israel of fabricating "pretexts" to resume the war.In a separate statement, the Israeli military said two of its soldiers "fell during combat in the southern Gaza Strip".A security official said that Israel was also suspending the entry of aid into Gaza, blaming "Hamas's blatant violations" of the ceasefire.Israel repeatedly cut off aid to the territory during the war, exacerbating dire humanitarian conditions, with the United Nations saying it caused a famine in northern Gaza.The truce in the Palestinian territory, brokered by US President Donald Trump and taking effect on 10 October, brought to a halt more than two years of devastating war between Israel and Hamas.Palestinian witnesses said clashes erupted in the southern city of Rafah in an area still held by Israel.A statement from Izzat al-Rishq, a member of Hamas's political bureau, reaffirmed the group's commitment to the ceasefire and said Israel "continues to breach the agreement and fabricate flimsy pretexts to justify its crimes".Hamas's armed wing insisted on Sunday that the group was adhering to the ceasefire agreement with Israel and had "no knowledge" of any clashes in Rafah.Israel resumes ceasefireThe Israeli military said Sunday it had resumed enforcing a ceasefire in Gaza after carrying out dozens of strikes on Hamas targets earlier in the day. "The IDF has begun the renewed enforcement of the ceasefire," the military said in a statement."The IDF will continue to uphold the ceasefire agreement and will respond firmly to any violation of it."

The Qatar Stock Exchange (QSE) general index opened higher on Wednesday, gaining 36.34 points, or 0.34%, to reach 10,782 points at the start of trading, compared to the previous session's close. The rise was driven by gains across most sectors. Telecommunications led the advance with an increase of 1.0%, followed by Banks and Financial Services (+0.39%), Transportation (+0.17%), Consumer Goods and Services (+0.14%), Industrials (+0.12%), and Insurance (+0.02%). The Real Estate sector was the only decliner, edging down 0.01%. By 10:00 am, QSE reported a turnover of QR 43.17 million from 19.66 million shares traded across 3,224 transactions.

The Qatar Stock Exchange (QSE) index rose to 10,902 points at the beginning of Thursday's trading, up 0.04%, or 4.84 points, compared to the previous session's close, supported by gains in five sectors.According to figures released by the QSE, Real Estate led the gains, up by 0.43%, followed by Industrials and Telecoms, each rising by (+0.26%), Consumer Goods and Services (+0.18%), and Insurance (+0.01%). In contrast, Banks and Financial Services slipped 0.03%, and Transportation (-0.12%).As of 10:00 am, trading volume totaled 20.663 million shares, with a turnover of QR 42.454 million across 2,767 transactions.

The Qatar Stock Exchange (QSE) index rose to 10,903 points at the beginning of Tuesday's trading, up 0.14%, or 15.06 points, compared to the previous session's close, supported by gains in four sectors. According to figures released by the QSE, the Telecoms sector led the gains, up by 0.32%, followed by Industrials (+0.17%), Banks and Financial Services (+0.09%), and Transportation (+0.03%). In contrast, Consumer Goods and Services slipped 0.03%, Real Estate declined 0.10%, and Insurance fell 0.71%. As of 10:00 am, trading volume totaled 13.668 million shares, with a turnover of QR 28.294 million across 1,838 transactions.

QNB Group, the largest financial institution in the Middle East and Africa , announced the successful refinancing of its $1.5bn unsecured syndicated term loan facility. QNB Group CEO Abdulla Mubarak al-Khalifa, commented:“This refinancing attracted the interest of global and regional banks and helped us further broaden our investor base. The issuance was substantially oversubscribed at very competitive all-in pricing, which despite challenging global markets demonstrates our standing as a high-quality issuer.” The $1.5bn facility, with a maturity of five years, was well supported by both regional and international banks with significant oversubscription. Global Coordinators of the facility were HSBC, DBS, and SCB, and Initial Mandated Lead Arrangers and Bookrunners were Mizuho, Barclays and JPM. HSBC was mandated as the Documentation Coordinator, DBS as Syndication Coordinator and Mizuho as Facility Agent.

The State of Qatar took part in the 7th Meeting of the OIC-COMCEC Central Banks Forum in Istanbul on September 28-29, reports QNA.HE the Governor of the Qatar Central Bank, Sheikh Bandar bin Mohammed bin Saoud al-Thani, represented Qatar at the meeting, which discussed a raft of topics on the agenda.Sheikh Bandar also met with Governor of the Central Bank of Turkiye, Dr Fatih Karahan, and deliberations in the meeting touched on strengthening bilateral co-operation in financial and banking fields.

The assets of Islamic banks in the country grew by 3.9% to QR585.5bn in 2024, according to Bait Al-Mashura Finance.Quoting figures from the Qatar Central Bank (QCB), Bait Al-Mashura said in 2023 Islamic bank assets in the country totalled QR563.7bn.Islamic banks accounted for 28% of the total assets of Qatar’s banking sector, the researcher said.Domestic assets of Islamic banks increased by 4% in 2024 to QR529.7bn, while their reserves rose by 6.3% to QR20.6bn.Foreign assets amounted to QR35.2bn, a 0.4% decrease year-on-year compared to 2023.The compound annual growth rate (CAGR) of assets for Qatar’s Islamic banks over the five-year period (2020-2024) reached 5.4%, compared to 3.5% for traditional commercial banks in the country during the same period.In 2024, Islamic banks in Qatar recorded revenues of QR29.5bn, representing a growth rate of 12.6% compared to 2023.Financing and investment activities accounted for 91% of these total revenues. This growth was driven by a 13.8% increase in financing and investment revenues, along with an 8.4% decrease in the provision for credit losses compared to 2023.Over the period 2020-2024, the revenue of Islamic banks grew at a CAGR of 9%.In 2024, the four Islamic banks in Qatar achieved total net profits of QR8.7bn for their shareholders, compared to QR8.2bn in 2023, representing a 6% growth.Data from the QCB showed that total deposits in the Qatari banking system grew by 4.1% in 2024.Islamic bank deposits in Qatar increased by 8.2% during the same period, compared to a 2.2% increase in deposits at conventional commercial banks.Islamic bank deposits accounted for approximately 34% of the total deposits in the Qatari banking system, reaching a total of QR339.1bn, compared to QR313.4bn in 2023.Over the period 2020-2024, the compound annual growth rate for deposits in Islamic banks was 5%, compared to 1.5% for conventional banks.The private sector held the largest share of deposits in Islamic banks, at 57%, followed by the public sector with 38%. Non-resident deposits constituted only 5% of total deposits in Islamic banks.During 2024, the most significant growth rate was observed in public sector deposits, which increased by 20%. Private sector deposits also grew by 4%, while non-resident deposits declined by 16% compared to 2023.According to quarterly data from the QCB, financing provided by Islamic banks (in 2024) reached QR401.5bn, an increase of 4.9% compared to 2023.Credit facilities extended by traditional commercial banks also increased by 4.4%.The most significant growth in Islamic bank financing in 2024 was observed in the real estate and general trade sectors, increasing by 16% and 12.7% respectively.Financing for the services and consumer sectors also increased by 4.5% and 2.9% respectively.Conversely, financing for the industrial and construction sectors declined by 14.2% and 11.3% respectively.Islamic bank financing represented 30% of total banking sector financing in 2024.During the period 2020-2024, the CAGR for total financing by Islamic banks was 5.2%, compared to 3% for traditional commercial banks.

The GCC Statistical Center revealed in a report on Monday that the total assets of commercial banks in the Gulf Cooperation Council (GCC) countries increased by 10 percent in 2024, reaching approximately USD 3.5 trillion, compared to 2023.The report mentioned that the total deposits in these banks amounted to about USD 2.1 trillion in 2024, showing a 9.6 percent increase compared to 2023.The report also highlighted the rise in total loans provided by the banks, reaching nearly USD 2.1 trillion in 2024, an increase of 9.9 percent over 2023, with the private sector accounting for about 80.7 percent of the total loans.The statistics from the GCC Statistical Center showed a decline in the non-performing loan ratios across the GCC countries during the period from 2020 to 2024, with a noticeable variation in the loan-to-deposit ratios, ranging between 66 percent and 125 percent.Regarding capital adequacy, the GCC countries maintained high levels, surpassing the minimum threshold set by the Basel III Committee of 8 percent, with ratios ranging between 17.8 percent and 32 percent in 2024.On the financial performance front, commercial banks in the GCC countries witnessed significant growth in their net profits over the past four years, surpassing pre-COVID-19 levels.

Qatari lenders were seen to have the highest operational efficiency within the Gulf banks during the second quarter (Q2) of 2025, according to Kamco Invest, a regional non-banking finance entity."Qatari banks continued to boast the lowest cost-to-income ratio in the GCC that reached a seven-quarter low level of 36.6% during Q2-2025," Kamco said in its latest report.At the country level, the aggregates for Qatari banks showed a 110bps (basis points) plunge, followed by the UAE and Saudi Arabia banks with 70bps and 60bps fall respectively, it said.The aggregate operating expenses for the listed banks in the GCC continued to decline for the second consecutive quarter reaching a three-quarter low level during Q2-2025, Kamco noted.Total operating expenses for the GCC banking sector stood at $13.4bn during Q2 with a quarter-on-quarter decline of 1.5% and a year-on-year growth of 6.9%.The quarterly decline showed mixed trends at the country level with three countries showing an increase and the remaining three showing a decline.The UAE-listed banks showed the biggest fall in operating costs during the quarter that reached $4.6bn from $4.9bn in Q1-2025.Qatari and Bahraini banks also showed declines of 4.5% and 4%, respectively, it said, adding on the other hand, Kuwait banks reported the biggest increase of 4.4% with total operating expenses reaching $1.6bn in Q2-2025.The quarterly increase reported by Saudi and Omani banks was marginal, it added.The decline in operating expenses resulted in a marginal drop in the cost-to-income ratio for the GCC banking sector that once again went below the 40% mark during Q2-2025. The ratio fell by 50bps to 39.5% at the end of the quarter compared to 40% during Q1-2025, reflecting a drop in the ratio for three of six country aggregates.The report found that the Qatari banks' loan-to-deposit ratio was at 90.3% during Q2-2025, an improvement from 89.6% during Q1-2025.The aggregate loan-to-deposit ratio for the GCC banking sector remained elevated above the 80% mark at the end of Q2-2025."The ratio has remained consistently above 80% over the last five quarters and reflects improving asset utilisation as well as better margins to offset pressure from lowering interest rates," it said.Total customer deposits of listed GCC banks reached a new record high at the end of Q2-2025 at $2.74tn, registering a quarter-on-quarter growth of 3.5%.The growth was broad-based as seen in higher quarterly customer deposits in all countries in the GCC.At the country level, Kuwaiti banks saw the strongest growth in deposits at $334.8bn after a quarter-on-quarter growth of 4.7%.The UAE-listed banks were next with a quarterly deposits growth of 4.1% to $941bn, the highest in the GCC, followed by banks in Saudi Arabia with a growth of 3.9% to $858.8bn. Banks in Bahrain, Oman and Qatar, have reported slightly smaller customer deposit growth during the quarter, it said.

Legal PerspectiveCommercial banks play a pivotal role in most trade finance transactions. Herein, the banks can take different roles, such as the issuing bank, the confirming bank, the nominating bank, the advising bank or otherwise depending on the intention and interest of the bank in serving their different clients.I believe that the role of each of the above-mentioned banks is important and highly needed for such transactions. However, the role of the confirming bank could be more important and very essential to complete the smooth process of trade finance transactions.Therefore, we need to know more about confirming banks. Under the UCP 600, a confirming bank is a bank that adds its confirmation to a letter of credit (LC) at the initial request or authorisation of the issuing bank, undertaking obligations similar to the issuing bank's own. In other plain words, it is a kind of a “confirmer” that agrees to perform the principal duties of the issuing bank.This banking activity adds an extra layer of security for the exporter (beneficiary), ensuring the payment even if the issuing bank defaults. Moreover, the key responsibilities of a confirming bank include examining documents for compliance and ensuring payment or negotiation if the presentation is complying.According to the UCP (Uniform Customs and practices for Documentary Credits) 600, explain the meaning of “Confirming Bank”. Sub-article 37 (c) of UCP 600 states: “A bank instructing another bank to perform services is liable for any commissions, fees, costs or expenses (‘charges’) incurred by the bank in connection with its instructions”.Based on this and according to sub-article 8 (b) of UCP 600, the obligation of a confirming bank begins only when it adds its confirmation to the credit: “A confirming bank is irrevocably bound to honour or negotiate as of the time it adds its confirmation to the credit”.In trade finance transactions, the issuing bank is in fact open to confirmation being added, but not mandating it. The confirming bank can add its confirmation, however, it still retains the right to decline the confirmation, as stated in sub-article 8 (d) of the UCP 600. As a rule, if a bank authorised or requested by the issuing bank to confirm a credit, is not prepared to do so, it must inform the issuing bank without delay and may advise the credit without confirmation. All this is optional for the confirming bank as they deem appropriate and acceptable for them.Many people ask if the issuing bank can also take the role of a confirming bank. Generally, the answer is yes. An issuing bank can also act as the confirming bank, although typically these are separate entities. Normally, the issuing bank issues the LC, while the confirming bank adds its own guarantee of payment, which provides greater security to the beneficiary. However, in situations where the issuing bank is also the one performing the confirmation, it's acting in both capacities within the same transaction.Even though, the role of the confirming bank is very clear, however, there are many cases in Courts between the issuing banks and the confirming banks and or clients. It is important to be more vigilant and careful in such transaction as they may cause unnecessary troubles and legal obligations.Dr AbdelGadir Warsama Ghalib is a corporate legal counsel. E-mail: [email protected]

Under the banner "Together We Shape the Future", the Ministry of Labour, in partnership with Commercial Bank, hosted a career fair designed to provide Qataris and children of Qatari women with employment opportunities, professional training, and immediate career pathways within the private sector.The initiative forms part of the Ministry's broader programs with private sector partners to advance the nationalisation agenda. It reflects sustained efforts to broaden prospects for national talent, enhance professional competencies, and align workforce development with the Third National Development Strategy, which seeks to empower citizens, increase participation in the Labour market, and ensure rewarding private-sector roles.Speaking at the event, Assistant Director of the National Manpower Recruitment Department Mohammed Al Kawwari emphasised that the colLabouration with Commercial Bank demonstrates the Ministry's commitment to increasing employment for Qataris and children of Qatari women in key industries. He noted that the fair opens new horizons for national talent and supports the 2024-2030 National Workforce Strategy, aimed at building an effective and highly productive workforce.Al Kawwari highlighted the Ministry's dedication to creating a safe, stable, and motivating environment for private sector employers one that attracts and retains national talent. He underlined that nationalisation should be regarded not merely as an obligation but as a strategic opportunity to enhance performance, productivity, and competitiveness, while contributing to a sustainable and resilient economy.Executive General Manager and Chief Human Capital Officer at Commercial Bank Khalifa Nasser Al Rayyis, reaffirmed the bank's commitment to nurturing Qatari talent, describing investment in local professionals as a cornerstone of the bank's long-term strategy. Hosting the career fair for the first time at its headquarters, he highlighted the bank's focus on providing meaningful career pathways through training, sponsorships, and colLabouration with the Ministry and universities.Al Rayyis noted that Commercial Bank was among the first institutions to implement the nationalisation program with the Ministry, including its sponsorship of the Financial Cadres initiative. He added that the bank continues to develop the next generation of Qatari professionals by integrating training and development schemes across multiple platforms.The career fair targeted exceptional university students, recent graduates, and highly qualified professionals capable of leading the banking sector and advancing financial services nationally and regionally. Participants engaged with senior bank leaders, explored career opportunities, and undertook interviews, assessments, and mentoring sessions with HR specialists.Ministry representatives observed the bank's sponsorship and support programs, which extend beyond finance to disciplines including economics, management information systems, computer engineering, cybersecurity, data science, technology, and law. Selected candidates were offered immediate recruitment, streamlining the hiring process under Ministry supervision.The fair also highlighted student sponsorship initiatives designed to support high-performing Qatari students whose skills and ambitions align with the bank's workforce requirements.Through its partnership with Commercial Bank, the Ministry of Labour reaffirmed its commitment to expanding opportunities for Qataris and children of Qatari women within the private sector. The initiative reflects national priorities to enhance workforce participation, nurture professional growth, and advance the human development pillar of Qatar National Vision 2030.