Qatar eyes liquidity boost in banks’ support move

Reuters reports that, “Qatar has asked its sovereign wealth fund to buy local banks’ investment portfolios to boost liquidity and encourage lending, a finance ministry official said on Tuesday.

The Gulf Arab oil and gas exporter said on Monday it will buy the portfolios without saying how much it had allocated to carry out the programme, which sent stocks soaring.

‘The main goal of this measure is to provide the necessary liquidity to the banks in order to facilitate lending,’ Khalaf al-Mannai, undersecretary for the finance and economy ministry told Reuters in a telephone interview.”

read more: Reuters

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