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Qatar’s banking sector sound, profitable, says QCB governor

Qatar’s banking sector sound, profitable, says QCB governor

Satyendra Pathak
Doha
Qatar Central Bank (QCB) Governor Sheikh Abdulla bin Saoud Al Thani has said Qatar’s banking sector is sound, liquid and profitable as the country handled the blockade successfully by taking various policy measures.
“Qatar’s banking sector has remained sound and liquid, part of which was because of the introduction of Basel III guidelines back in 2013-2014, which ensured a strong capital base for the banks,” Sheikh Abdulla said in an interview with The Business Year Qatar 2020.
He said the pool of high-quality liquid instruments with the introduction of treasury bills and bonds in 2011 also enabled the banks to withstand the sudden liquidity pullback from the blockading countries.
He said the government and QCB took a series of proactive measures to overcome the impact of the blockade and the economy rebalanced quickly in the second half 2017. page 7