GulfBase Live Support
21/01/2015 05:33 AST
Qatar’s economy remains stable and strong enough to face the current global economic challenges, said International Islamic CEO Abdulbasit A al-Shaibei. “Qatar is implementing major projects as part of its broader economic vision,” al-Shaibei said on the sidelines of the Second Career Day at the Sheraton yesterday.
He said the government’s policies attached top priority to development projects across various sectors in the country. The ongoing development projects would keep the national economy active, the International Islamic CEO said.
The local market presented promising opportunities; there were many ongoing projects and the general environment was very favourable.
On the current global economic challenges, al-Shaibei said, “Its impact will be limited on Qatar. Our economy remains stable and we are on the fast track of development.”
He said International Islamic would announce its 2014 financial results shortly.
Al-Shaibei said International Islamic’s policies and robust risk management procedures ensured that the bank’s non-performing finance remained “very low”.
The bank’s capital adequacy was at very comfortable level, which al-Shaibei said “reflects the wise policies being pursued by the bank within the realm of risk management.”
International Islamic is in strong compliance of the Basel II international standard that requires financial institutions to maintain enough cash reserves to cover risks incurred by operations, he said.
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