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Tuesday, 30 August 2016

Qatar Bank CEO says liquidity better after $9b bond sale | GulfNews.com

Qatar Bank CEO says liquidity better after $9b bond sale | GulfNews.com:

"The availability of funds in the Qatari banking system, which earlier this year became a more serious issue than during the 2008 financial crisis, is improving after the country’s $9 billion bond sale in May, Doha Bank QSC Chief Executive Officer Raghavan Seetharaman said.
“The second quarter was an improvement compared to the first quarter, and the third quarter has also been following the right trend,” he said in a TV interview with Bloomberg Markets Middle East on Tuesday. “We’re likely to see similar in the coming quarters.”
Bank liquidity in the six-nation Gulf Cooperation Council has been tightening as a more than 50 per cent slump in crude oil prices since mid-2014 slows deposit growth and pushes governments to boost borrowing. The situation in Qatar became a bigger issue at the start of the year than it was in 2008, Seetharaman said in May, the same month that the government sold $9 billion of Eurobonds in the Middle East’s biggest-ever bond issue."



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