Qatar’s banks are strong, says gov­er­nor

Banking Frontiers - - News / Banking In The Gulf -

Qatar Cen­tral Bank’s gov­er­nor Sheikh Ab­dul­lah bin Saoud Al Thani said Qatari lo­cal banks are ca­pa­ble of fac­ing any pos­si­ble ‘ab­nor­mal con­di­tions’ re­sult­ing from the siege im­posed on the coun­try. He said the coun­try’s bank­ing sys­tem is strong and ef­fi­cient as proved by stress tests car­ried out rou­tinely by the cen­tral bank. He said the banks are highly sol­vent and prof­itable and the de­posits in the bank are in ex­cess of QR39.3 bil­lion. The cen­tral bank is also strictly fol­low­ing in­ter­na­tional stan­dards, es­pe­cially in cap­i­tal ad­e­quacy and liq­uid­ity. Sheikh Ab­dul­lah also noted that the in­ter­na­tional re­serves of Qatar Cen­tral Bank were in line with in­ter­na­tional stan­dards.

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