Financial policy will focus on monetary stability
- Oil prices are a threat to Qatari banking system
- Stability is main priority for the central bank
The world economy and international financial markets present an unprecedented challenge to the Qatari banking system according to Abdulla bin Saoud al-Thani, Governor of the Qatar Central Bank.
Al-Thani highlighted low oil prices as another key challenge, but said the country had made good progress through the years of high oil prices. Qatari financial policy will focus on monetary stability, sustainable economic development and deepening financial markets in accordance with teh National 2030 Vision.
The centrak banks highest priority is stability through strengthening institutions and international links.
Qatar built up over QR160bn ($43bn) in financial reserves while oil prices were high, allowing a budget of more than QR100bn despite the sustained lower oil prices.
The principal strategies for the central bank in 2015 will be stability, strengthening financial markets through bond and sukuk issuance, improving the structures and organisations of the the qatari banking system and its international cooperation.
The bank is also focusing on strengthening the Qatar Exchange, whose capitalisation reached QR590bn in 2014. Initiatives include improving guarantees and investor protections, encouraging more companies to list and improving information for companies.
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