Qatar’s Banking Sector Praised for Strong Capital Adequacy at Arab Banking Conference

Qatar, 12 September, 2024 : At the Arab Banking Conference 2024, Dr. Fahad bin Mohammed Al Turki, Director General and Chairman of the Arab Monetary Fund, highlighted Qatar’s banking sector for its strong performance. Qatar's capital adequacy ratio of 19.2% is the highest among Arab countries, reflecting the sector’s robustness and resilience. Qatar holds the third position in the Arab banking sector, representing 11.9% of its assets.

Al Turki emphasized the need for banks to innovate and support investments in sustainable infrastructure, clean energy, and projects that meet social and environmental goals. He also stressed the importance of integrating sustainability standards into lending and investment operations.

Mohamed Mahmoud El Etreby, Chairman of the Union of Arab Banks, delivered the opening address, underscoring the urgency of achieving the Sustainable Development Goals (SDGs) for 2030. He called for a shift to sustainable development models to address challenges like water scarcity and desertification and advocated for enhanced regional and international cooperation to attract foreign direct investment (FDI) and strengthen global partnerships.

El Etreby noted progress in the green economy, with Arab countries issuing $14 billion in green bonds from 2015 to 2020, 84% of which are considered sustainable. He emphasized the financial sector’s role in achieving long-term economic and growth goals, highlighting advancements in fintech, regulatory frameworks, and the adoption of ESG metrics by Arab banks.

Dr. Rola Dashti, Under-Secretary-General and Executive Secretary of ESCWA, also delivered a keynote address. The conference featured panel sessions on sustainable development requirements and financing gaps in the Arab region, as well as the role of financial markets and institutions in supporting development.

Source : www.zawya.com