Qatar to launch local currency bond

31 May 2010

Qatar's finance minister, Yousef Kamal has unveiled plans to issue the country's first local currency bond in an effort to diversify its funding away from the US dollar, foster a domestic bond market and widen its range of monetary policy tools, Financial Times has reported. Bankers estimated the size of the bond sale at QR4bn ($1.1bn). The central bank will announce the sale of Qatari riyal-denominated Islamic and conventional bonds to its domestic banks on either Monday or Tuesday, the minister told the newspaper.

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