QCB governor sees $50bn deals in 2014

March 19, 2014 - 4:50:04 am

Doha: Qatar Central Bank Governor H E Sheikh Abdullah bin Saud Al Thani has projected that Qatar will sign contracts in infrastructure, transport and energy and other sectors of up to $50bn in 2014.

Speaking at the inauguration of the 11th Meed Qatar Projects Conference 2014, Sheikh Abdullah bin Saud said this reflects the rapid and strong development of the Qatari economy and the extended growth and expansion expected in the next few years due to increasing need to achieve Qatar National Vision (QNV) 2030.

He added that Qatar’s financial sector has seen an enormous development and made effective contributions to the country’s economic growth. 

He also mentioned QCB initiatives to achieve the goals of QNV 2030 with the launching of the strategy of supervisory and regulatory bodies being the recent one.

He also noted that client deposits with commercial banks have increased in 2013 by 19.7 percent to reach QR548bn compared to QR458bn one year before.