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Posted On: 20 October 2019 09:38 am

Qatar Central Bank Governer presents financial sector development

Sumaica Asad
Sumaica Asad
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Qatar-Central-Bank

H.E. Qatar Central Bank Governor Sheikh Abdullah bin Saud Al-Thani has reviewed the latest developments in the financial sector in the country, as well as ways and means by which the State of Qatar will be able to attract specialized American financial technology companies to come to Qatar and help banks improve the quality and efficiency of their offerings in this area.

This came in a speech delivered by H.E. the Governor of Qatar Central Bank during a special dinner hosted by the Qatar-US Business Council and the American Chamber of Commerce on the eve of the annual meetings of the World Bank Group and the International Monetary Fund (IMF) held in Washington from October 18 to 20.

In his speech, H.E. Sheikh Abdullah bin Saud Al-Thani highlighted the Qatari-US economic relations, and the increasing volume of US trade and imports in Qatar, touching on the main partnership areas between the State of Qatar and the United States. He also stressed the importance of the United States as a strategic partner to the State of Qatar, pointing out that all economic indicators confirm the improvement of economic relations between the two sides.

His Excellency explained that the unjust embargo imposed on the State of Qatar, has obliged the State to reconsider its international trade relations, and thus, the state has become more open, diverse and more self-reliant than it was before the blockade.

He pointed out that the State of Qatar has become more ambitious, independent, and focusing on globalism, while insisting on strengthening and expanding its relations with important partners.

"With regard to bilateral relations with the United States, Qatar is looking ahead to the future and is committed to finding more ways and alternatives to encourage stronger relations between the financial sector in Qatar and its counterpart in the United States," he said.

During the function, attended by companies from all sectors related to financial technology (FinTec) and banking sectors, H.E. Governor of Qatar Central Bank was also involved in bilateral discussions with the participating companies to learn about their best practices and prospects of benefiting from them in the financial and banking sectors in Qatar.