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Sheikh Abdulla

Maintaining stability priority, says Qatar cbank chief

DOHA, March 8, 2017

Changing economic landscape of Qatar will mean that the framework governing the country’s financial sector would inevitably need to evolve, but maintaining financial stability remains the priority, says the Governor of Qatar Central Bank in an interview.

The latest regulatory developments governing Qatar’s financial sector and what they mean for the broader economy is mapped out by Sheikh Abdulla bin Saoud Al Thani in a wide-ranging interview given to Oxford Business Group (OBG), a global research and consultancy firm.

Sheikh Abdulla traces the sector’s development under Qatar’s Strategic Plan 2013-2016, while sharing his expectations for the latest five-year initiative that has just been implemented.

“Work will continue on further improving the regulatory framework for the implementation of both micro- and macro-prudential policies,” he told the global research and consultancy firm. “We will also maintain our focus on enhancing market architecture and operations, improving coordination among regulators and further developing financial markets.”

In addition, boosting investor and customer confidence is high on the agenda, Sheikh Abdulla added.

He acknowledged that a changing economic landscape meant that the framework governing Qatar’s financial sector would inevitably need to evolve. “However, having policies in place aimed at maintaining financial stability remains the priority,” he told OBG.

The full interview with Sheikh Abdulla will appear in the Banking Chapter of The Report: Qatar 2017, OBG’s forthcoming report on the country’s economy.

The chapter includes in-depth analysis of the latest developments taking place across Qatar’s financial sector and interviews with its leading representatives.

Headline topics include the impact on lenders of sustained lower oil prices and revenues, which has led to reduced liquidity levels. OBG also considers the country’s potential move to issue bonds on the international markets. Other subjects explored include the challenges that cross-border investment produces for the sector and the planned merger of Masraf Al Rayan, Barwa Bank and the International Bank of Qatar.

The Report: Qatar 2017 will contain a detailed, sector-by-sector guide for investors. The publication will be a vital guide to the many facets of the country, including its macroeconomics, infrastructure, banking and other sectoral developments. It will be available in print and online, the group said. – TradeArabia News Service
 




Tags: Qatar | Central Bank | Financial |

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