“QATAR'S BANK­ING SEC­TOR RE­SILIENT”

Qatar Today - - BUSINESS | BANK NOTES -

Qatar Cen­tral Bank Gover­nor Sheikh Ab­dulla bin Saoud Al Thani has said that the coun­try's banks are ca­pa­ble of with­stand­ing the pres­sure of the block­ade im­posed by other Arab states af­ter Fitch Rat­ings low­ered Qatar's credit rat­ing by one notch to AA-mi­nus with a neg­a­tive out­look. Ear­lier, Moody's and Stan­dard & Poor's had also down­graded Qatar's rat­ing.

In an exclusive in­ter­view with QNA, Al Thani said the banks are highly sol­vent and prof­itable. The de­posits in the banks are in ex­cess of QR39.3 bil­lion. On the de­ci­sion of Moody's low­er­ing the credit rat­ing of Qatari banks, Al Thani said that the cur­rent geopo­lit­i­cal risks were a big fac­tor in the agency's de­ci­sion. QCB be­lieves the agency will amend that change in the near fu­ture.

In terms of bank­ing reg­u­la­tions, the cen­tral bank is strictly fol­low­ing in­ter­na­tional stan­dards, espe­cially in cap­i­tal ad­e­quacy and liq­uid­ity. In ad­di­tion, QCB has taken pre­cau­tion­ary mea­sures in the face of the neg­a­tive im­pact of the em­bargo.

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