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Doha: Banks are resorting to international investors to increase their financing
18/08/2017
Doha has directed banks in Qatar to resort to international investors to increase their financing, rather than relying mainly on government funding, Bloomberg quoted sources as saying on Friday.
The Saudi-led Arab boycott has put pressure on Qatar's liquidity, especially after a drop in foreign deposits in the country, the world's largest exporter of liquefied natural gas.
Bloomberg quoted sources as saying the Qatar Central Bank was holding regular meetings with lenders to assess the impact of the boycott on liquidity in the banking sector and encouraged banks to borrow from international markets through bonds or loans to avoid depletion of foreign reserves and credit ratings.
Banks in Qatar have been told that government funding should be seen as the last solution, the sources said.
Some banks, in which the Qatari government has a stake, plan to make fund-raising deals. Most borrowers are targeting Asia to bridge the gap left by Gulf lenders, the sources said.
Qatar National Bank (QNB), the country's largest bank, has been in discussions with international lenders about bond issues and loans. Commercial Bank QSC has also sent applications for a $ 500 million loan offer. Doha Bank is also seeking to raise funds by offering Dollar Bonds.
Sources say Qatari banks also find it difficult to obtain short-term financing. International banks demand that these institutions be placed on assets outside of Qatar instead of domestic assets to reduce the risks associated with loans.
http://aletejahtv.org/permalink/177389.html
18/08/2017
Doha has directed banks in Qatar to resort to international investors to increase their financing, rather than relying mainly on government funding, Bloomberg quoted sources as saying on Friday.
The Saudi-led Arab boycott has put pressure on Qatar's liquidity, especially after a drop in foreign deposits in the country, the world's largest exporter of liquefied natural gas.
Bloomberg quoted sources as saying the Qatar Central Bank was holding regular meetings with lenders to assess the impact of the boycott on liquidity in the banking sector and encouraged banks to borrow from international markets through bonds or loans to avoid depletion of foreign reserves and credit ratings.
Banks in Qatar have been told that government funding should be seen as the last solution, the sources said.
Some banks, in which the Qatari government has a stake, plan to make fund-raising deals. Most borrowers are targeting Asia to bridge the gap left by Gulf lenders, the sources said.
Qatar National Bank (QNB), the country's largest bank, has been in discussions with international lenders about bond issues and loans. Commercial Bank QSC has also sent applications for a $ 500 million loan offer. Doha Bank is also seeking to raise funds by offering Dollar Bonds.
Sources say Qatari banks also find it difficult to obtain short-term financing. International banks demand that these institutions be placed on assets outside of Qatar instead of domestic assets to reduce the risks associated with loans.
http://aletejahtv.org/permalink/177389.html
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