QCB to protect banks’foreign investments

Qatar Central Bank (QCB) has decided to implement new measures to protect the banks’investments abroad, the credit facilities the banks provide abroad and the banks’financial transfers in a number of risky countries.

The aim of the new measures is to reduce the risks which the local banks face abroad, particularly in countries that are exposed to various risks in international financing institutions, Al Sharq newspaper reported.

The move also aims to oblige local banks to exercise caution when dealing with low-rated countries and to take the necessary precautions which ensure fulfilling the rights of the bank and retrieving its money.

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Source News: Qatar Tribune