Barwa Bank-ibq merger boosts Islamic finance, says QCB chief Sep 27, 2020 0 6315 12345 Tribune News NetworkDoha The first banking merger in Qatar between Barwa Bank and International Bank of Qatar (ibq) in 2019 gave a boost to Islamic finance in the country, Qatar Central Bank (QCB) Governor Sheikh Abdullah bin Saud Al Thani has said. In his foreword to the Islamic Finance in Qatar Report 2019 published by Bait Al Mashura Finance Consultations, the QCB governor said, “Thanks to this merger, Islamic banks achieved high growth rates during the year. The past year also witnessed success for Islamic banks in Qatar at the international level, represented in the successful listing of their Sukuk on the global stock exchanges. This reflected the level of confidence in the Qatari economy and Islamic banking.”The banking system in Qatar has maintained its stability and growth, thanks to the adoption of regulatory standards aimed at strengthening the banking sector and ensuring its ability to absorb shocks, he said. “Despite the events that occurred in the past year which affected global growth, the financial and banking sector in Qatar is still healthy, safe and robust, and it has achieved positive growth rates,” the QCB governor said.“Digitalisation, financial innovation and their rapid developments that we are witnessing nowadays may reshape the banking scene in the world,” he said.The QCB governor said, “In this context, preparations are being made to launch the Financial Technology Strategy and ‘Sandbox’. In addition, financial and banking institutions shall direct their efforts towards developing the services and products they provide to customers and adopting the latest technologies.” RELATED ARTICLES Qatar sends more aid to Sudan Sep 27, 2020 0 4235 Qatar among region’s top emerging tourism destinations: Al Baker Sep 27, 2020 0 5990 Amir condoles with Ukrainian president Sep 27, 2020 0 5888 Qatar’s COVID-19 recoveries reach 121,738 Qatar on Saturday reported 200 coronavirus (COVID-19) cases -- 192 from community and 8 from travellers returning from abroad, the Ministry of Public Health (MoPH) said in its daily report. Also, 226 people recovered .. QFCRA slaps QR728K fine on Takaful International Company The QFC Regulatory Authority has imposed a financial penalty of QR728,000 on Takaful International Company B.S.C (Takaful). Takaful was authorised as an insurer in the Qatar Financial Centre. The imposition of the .. Qatar affirms its active role in international multilateral action Qatar has renewed its commitment to the principle of multilateralism and affirmed its active role in the international multilateral order. “The weakening or absence of the multilateral system would lead to policy of .. Al Khater meets Afghan women leaders HE Lolwah Al Khater, Assistant Minister of Foreign Affairs, has expressed her happiness after she met Fatima Gailani, Habiba Sarabi, Fawzia Koofi and Sharifa Zurmati Wardak, members of the negotiating team of .. Alzheimer’s, memory services helpline receives over 800 calls CATHERINE W GICHUKI DOHA The National Alzheimer’s and Memory Services Helpline (RAHA) has received over 800 calls since its launch on June 15. The helpline, which was launched to provide support and care to the elderly in ..