Qatar’s banking system faces huge pressure

Doha has been hit by blockades and financial sanctions from surrounding Gulf countries, amid a row over Qatar’s relations with Iran. Credit rating giant Moody’s said it’s now worried about banks’ ability to access external funding.

Qatar’s economic growth is now set to slow to 2.4 per cent this year, according to Moody’s. The agency raised the alarm over the sector as it slashed its outlook from stable to negative.

In addition, Moody’s said Qatari banks funding levels are now under threat. As the stand-off continues, the credit agency warned that Qatar financial systems are faced with weaker operating conditions and a possible funding crisis as foreign investors pull money out of the country.

Source Credit: Express
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