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04 Feb 2019, Gergana Bencheva, EMIS Editor

Outlook of Qatar’s banking sector for 2019 positive

The outlook of Qatar's banking sector for 2019 is positive and brighter than a year earlier, Qatar Tribune reported referring to an estimate made by the CEO of Qatar International Islamic Bank (QIIB), Abdulbasit Ahmed al Shaibei.

According to him, Doha’s economy has already overcome all obstacles caused by the recent diplomatic crisis which left the Gulf state isolated from its neighbours. Also, in his opinion, the government has come up with a promising budget for the current year.

QIIB’s CEO underlined that the bank’s net profit growth of 6% on the year for 2018 was a proof that Qatar’s economy was solid. QIIB is providing funding for various projects across various sectors in the Gulf country, with a focus on infrastructure. The bank’s current ambition is to expand abroad, Qatar Tribune added.

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