Qatar Pours More Billions Into Local Banks as Crisis Drags On - Bloomberg

Qatar Pours More Billions Into Local Banks as Crisis Drags On - Bloomberg:

"Qatari authorities stepped up their support of domestic banks for the third month in a row in August in an attempt to offset foreign withdrawals as the showdown between the Gulf emirate and a Saudi-led alliance show no sign of abating. Public-sector deposits in the world’s largest exporter of liquefied natural gas grew by 10.5 percent to 295 billion riyals ($80 billion) from 267 billion riyals in July, according to central bank data. That bring the increase to about 53 billion riyals since the crises broke out more than three months ago. The support helped total deposits grow 5 percent to 645 billion riyals even as non-resident deposits declined for a third straight month to 149 billion riyals, the data show. They stood at 171 billion in June."



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