Financial and Banking News
Qatar Liberalises Interest Rates; BMA Urges Banks to Reduce Lending Rate
The Qatar Monetary Agency (QMA - central bank) has abolished fixed interestrates and replaced them with a floating structure which will reflect US dollarrates. A QMA circular issued on 1 January set benchmark rates of 5.5% onovernight funds, 4.5% on one week deposits, 4.6% for one to three months, 4.75%for nine months and 5% for one year. Banks may set...