QCB ISSUES QR4 BILLION BONDS

The Qatar Central Bank (QCB) has started selling QR950 million riyals ($261 million) worth of sevenyear conventional treasury bonds on June 15 for the first time, as well as QR2.1 billion of three-year bonds and QR950 million of fiveyear bonds.

The QCB has begun selling seven-year debt to extend the yield curve it's developing for local companies to issue debt. “We try to create our yield curve and extend it for longer period of time. The bank is aiming to create a risk-free interest rate as a benchmark for local companies to issue their own bonds,” QCB Governor HE Abdullah Saud Al Thani said, according to a Bloomberg report. “This is step by step, it's well planned and we are creating our capital market,” he added.