'Qatar banking system capable of facing unfavourable circumstances'
October 21 2018 12:40 AM
HE the Governor of Qatar Central Bank, Sheikh Abdullah bin Saoud al-Thani
HE the Governor of Qatar Central Bank, Sheikh Abdullah bin Saoud al-Thani

QNA /Doha

HE the Governor of Qatar Central Bank, Sheikh Abdullah bin Saoud al-Thani, affirmed that the banking system in Qatar can easily face unfavourable circumstances because the banks operating in the country, both local and foreign, enjoy high capitalisation that enables them to face internal and external risks.

In an exclusive interview with Qatar News Agency (QNA), the QCB governor stressed that the exposure of the banks operating in Qatar, especially to the blockading countries, is limited, adding that it has faded with the continuation of the blockade.

He noted that the improvement in the efficiency of the banking sector has helped enhance the ability of these banks to confront any shocks through the application of the latest international supervisory standards.

An example of these standards is the International Financial Reporting Standard No 9, which is related to financial instruments and financial provisions.

The QCB governor pointed out that the stress tests carried out by the Bank are based on the maximum assumptions of shocks to the banks whether through internal or external factors.

The results of these tests showed the ability of local banks, especially banks with branches abroad, to withstand any potential risks or shocks.



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