Banking
From The Report: Qatar 2019
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Over the course of 2018 Qatar’s banking industry demonstrated its resilience in the face of an economic blockade placed upon the country by a number of governments. Credit ratings agencies Moody’s and Fitch both upgraded Qatar’s sovereign credit ratings outlook to stable in the summer of 2018, recognising the improving macroeconomic scenario and the largely successful resolution of the challenges associated with the economic embargo. This action was accompanied by a number of individual bank upgrades, and in October 2018 Moody’s upgraded the entire banking sector from negative to stable, noting that banking sector profitability will remain stable with strong capital buffers. This chapter contains interviews with Sheikh Abdulla bin Saoud Al Thani, Governor, Qatar Central Bank; Abdul Hakeen Mostafawi, CEO, HSBC Qatar; and Raghavan Seetharaman, CEO, Doha Bank.

Articles from this Chapter

Overview

Confidence boost: As the sector stabilises, it is well positioned to benefit from an anticipated economic expansion
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Over the course of 2018 Qatar’s banking industry has demonstrated its resilience in the face of the economic blockade placed upon the country by a number of governments. Credit ratings agencies Moody’s and Fitch both upgraded Qatar’s sovereign credit ratings outlook to stable in the summer of 2018, recognising the improving macroeconomic scenario and the largely successful resolution of the challenges associated with the economic embargo. This action was accompanied by a number of individual…

Interview

A safe strategy: Sheikh Abdulla bin Saoud Al Thani, Governor, Qatar Central Bank (QCB), on maintaining a robust financial environment
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Interview:Sheikh Abdulla bin Saoud Al Thani What kind of changes will new financial technology (fintech) bring to the sector? SHEIKH ABDULLA BIN SAOUD AL THANI: The government is actively promoting Qatar as a regional centre for fintech as new, cost-effective technologies are becoming increasingly prominent worldwide. Under the country’s Second Strategic Plan for Financial Sector Regulation 2017-22, fintech has been recognised as a primary tool for achieving long-term development goals…

Analysis

Growing portfolio: Banks attempt to offset the effects of the negative housing climate by offering new mortgage products and incentives
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Qatari banks seeking to build their home loan portfolios have faced a challenging environment in recent years. According to the IMF, Qatar’s real estate price index fell by 11% in 2017, reversing a positive trend that had seen a 53% cumulative increase between 2013 and 2016. The market continued to decline in 2018, with the transacted value of real estate deals falling by 32% in the first nine months of the year, according to the Kuwait-based investment company KAMCO. This muted performance…

Interview

Global expertise: Abdul Hakeem Mostafawi, CEO, HSBC Qatar, on growing international interest in local sector opportunities
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Interview:Abdul Hakeem Mostafawi How can Qatar reinforce its appeal to investors in international debt markets? ABDUL HAKEEM MOSTAFAWI: Economic development is an essential part of Qatar National Vision 2030, which aims to create a balance between a hydrocarbon-based and knowledge-based economy. Qatar has the advantage of a diversified product mix, including gas, liquefied natural gas (LNG), oil and condensate, as well as downstream products that are attractive for international investors.…

Interview

Restructured approach: Raghavan Seetharaman, CEO, Doha Bank, on how competition and technology are changing the local banking landscape
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Interview:Raghavan Seetharaman, CEO, Doha Bank What potential do you see for a consolidation in the banking market in the short to medium term? RAGHAVAN SEETHARAMAN: With approximately 2.7m inhabitants, Qatar only has a small bankable population, meaning that consolidation in the banking sector has been an evolving discussion. There is a high level of competition in the market, and it is widely seen as overbanked. As a result, banks require considerable collaboration to sustain their credibility,…

Overview

Fintech revolution: Tech solutions are driving the evolution of the sector landscape
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Once reserved for ambitious start-ups and industry-leading tech operators, financial technology (fintech) has more recently caught the attention of major private sector firms and government planners alike, becoming a regular feature in budget speeches and strategic development plans. As fintech progressively plays a larger part in the lives of consumers, investors have quickly come to recognise its potential as a growth industry. The tech-focused Janus Henderson Global Technology Fund, for example, has expanded by more than 160% since February 2013, and grew by some 30% over the course of 2017. Fintech is rapidly advancing across an array…

Overview

Fintech revolution: Tech solutions are driving the evolution of the sector landscape
OBG
plus

Once reserved for ambitious start-ups and industry-leading tech operators, financial technology (fintech) has more recently caught the attention of major private sector firms and government planners alike, becoming a regular feature in budget speeches and strategic development plans. As fintech progressively plays a larger part in the lives of consumers, investors have quickly come to recognise its potential as a growth industry. The tech-focused Janus Henderson Global Technology Fund, for example, has expanded by more than 160% since February 2013, and grew by some 30% over the course of 2017. Fintech is rapidly advancing across an array…