Qatari banks liquid: Official

January 12, 2011 - 10:26:52 pm

DOHA: Qatari banks are well capitalised, profitable, liquid and ready to finance viable projects, said George Nasra , Managing Director, IBQ, addressing a business delegate from Turkey.

“Our affiliation with the National Bank of Kuwait (NBK), which owns 30 percent of IBQ and which has a noticeable footprint in Turkey, makes for a strong partnership between IBQ and existing and new Turkish companies in Qatar,” he said.

The Turkish delegation was led by Turkish Prime Minister Recep Tayyip Erdogan and Zafer Layan, State Minister, and is set to meet representatives form various government and private organizations and ministries to increase the bilateral economic and investment opportunities between the two countries.

“As we stand, Qatar is leading growth forecasts in the region. With the World Cup set to take place in 2022 and the achievement of the LNG production milestone of 77 million tonnes, Qatar is now the fastest growing economy in the world. Add to this, the favourable inflation scenario, with low single-digit inflation, makes this an ideal time to launch new infrastructure projects. The pipeline for projects in Qatar is very healthy, especially outside the construction sector,” Nasra said further.

The relationship between Turkey and Qatar is of major significance. The meteoric success of Turkey’s and Qatar’s economies over the last few years have shown considerable parallels all underscored by sound leadership, and commitment to economic growth.

The Peninsula