Qatar’s financial sector remains strong and unaffected by the weaknesses of some of the developed economies of the world, said H E Abdullah bin Saud Al Thani, (pictured) Qatar Central Bank governor. In an introduction to the country’s Financial Stability Report for 2012, he said a number of new initiatives aimed at reinforcing the organisational structures of the local financial sector and the regulatory norms had led to a strong and stable financial sector.
The QCB chief said setting up a Financial Stability and Risk Control Committee (within the purview of the QCB) had resulted in the development of the financial sector and prosperity. “Our banks are enjoying a good level of capitalisation and have high profitability and their non-performing loans are low,” the Governor said. Contacted for comment on the governor’s remarks, financial analyst Basheer Al Kahlout said the QCB chief is referring to 2012 and talking of the European and Japanese economies whose performance had not been as expected. The Peninsula