Latest news with #NDS-3
Zawya
08-04-2025
- Business
- Zawya
Qatar commercial banks' assets total $565bln in February
Doha, Qatar: The total assets of commercial banks operating in Qatar saw an increase in February 2025 reaching over QR2 trillion according to official data released by Qatar Central Bank (QCB), yesterday. QCB revealed in a post on its X platform the developments in banking sector and the key banking sector indicators in February this year compared to last year. The key highlights from February 2025 Monthly Monetary Bulletin showed that the total assets of commercial banks witnessed year-on-year expansion by 4.7 percent to reach QR2.06 trillion. There was also an increase of 1.2 percent in the total domestic deposits on yearly basis to reach QR855.5bn in February this year. While the domestic credit in February 2025 grew by 4.7 percent year-on-year to QR1.32 trillion. QCB post further stated that the total broad money supply (M2) decreased by 1.1 percent to reach QR739bn in February 2025 on a year-on-year basis. According to a recent report by KPMG on Qatar's banking sector, it reaffirms Qatar National Bank's position as the largest bank in the GCC by assets, reaching $356bn. Qatar also continues to lead the region with the lowest cost-to-income ratio at 25.6 percent and the highest coverage ratio for stage 3 loans at 85.1 percent, reflecting strong financial resilience. Qatar has been following the Qatar National Vision 2030 (QNV) long-term development plan, which outlines the objective of economic diversification, with financial services – including banking – playing a pivotal role in this endeavour. Consistent with this vision, the QCB itself has published a series of long-term strategies with the release of the Third Financial Sector Strategic Plan. This plan for the sector aligns with and complements the broader goals of the (NDS-3). The NDS-3 outlines seven strategic national objectives for the coming period, ranging from sustainable economic growth, to quality of life and societal cohesion. The achievement of sustainable economic growth hinges on diversifying away from hydrocarbons, with a number of clusters proposed for this purpose. These clusters are further categorised into growth, enabling, resilience and future clusters, with financial services seen as one of three enabling factors. The banking sector is undergoing a transformative shift, adapting to global economic trends and embracing technological advancements. This evolution is marked by a commitment to risk management, FinTech innovation, and international standards, positioning the sector for sustained growth and stability. The banking industry in Qatar is also at the forefront of embracing Environmental, Social, and Governance (ESG) principles. Qatari banks are key players in driving sustainable development and social responsibility. By issuing green bonds and loans, they are not only prioritising financial gains but also focusing on benefiting the environment. With a sharp focus on sustainability, financial institutions are launching green bonds, eco-friendly loans, and social responsibility initiatives, reflecting their dedication to sustainable investment and environmental conservation. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. ( The Peninsula Newspaper
Zawya
07-04-2025
- Business
- Zawya
‘Public-private partnerships play integral role to enable Qatar's transformation'
Doha, Qatar: Qatar is looking ahead to an era of transformation and growth, guided by Third National Development Strategy ( NDS-3). The journey has been remarkable, from being a predominantly hydrocarbon-based economy to now standing on the cusp of a diversified and knowledge-based one, said an official. In an interview with The Peninsula, Bassam Hajhamad, Qatar Country Senior Partner and Consulting Lead, PwC Middle East highlighted Qatar's diversification efforts and the recently held National Development Forum. The National Development Forum is a catalyst for strategic alignment between the public and private sectors. As Qatar enters a new chapter under its Third National Development Strategy, the forum has helped shift private sector engagement to becoming more proactive, with clear pathways to co-create national outcomes, Hajhamad said. As part of NDS-3, public-private partnerships (PPPs) play an integral role in enabling the country's transformation. Therefore, Qatar's National Development Forum comes at a strategic time in the country's transformation journey, acting as a valuable platform that strengthens PPPs to support Qatar's strategic objectives under NDS-3. By bringing together key stakeholders, including government institutions, local enterprises, and international partners, the forum creates an enabling environment for increased private sector participation in national development. This collaboration is essential for leveraging private sector expertise, resources, and innovation to achieve NDS-3 targets, he added. This engagement has also enabled the private sector to advance its strategies and further align its operations more closely with national goals, with practical discussions around policy reforms, commercial licensing, and investment opportunities translating concrete outcomes on the ground. Additionally, the forum's impact is seen through its support for sector-specific initiatives, ranging from healthcare and education to tourism and LNG production, which contributes to the country's economic diversification and job creation efforts, while also facilitating innovation and investment led-growth. These initiatives facilitate innovation and investment-led growth, ensuring that the private sector plays a transformative role in Qatar's economic development. Hajhamad further noted that the National Development Forum plays a central role in enabling organisations to contribute to the realisation of Qatar National Vision 2030 (QNV 2030) through structured community dialogue and collaborative policy design. By providing space for inclusive discussions on development priorities, the forum ensures alignment between public aspirations and institutional planning. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. ( The Peninsula Newspaper
Zawya
05-03-2025
- Business
- Zawya
Qatar commercial banks' assets up 3.3% to $560bln in January
Doha, Qatar: The total assets of commercial banks operating in Qatar witnessed a surge to reach over QR2 trillion in January 2025 according to the official data released by Qatar Central Bank (QCB), yesterday. In a post on its X platform, QCB revealed the developments in banking sector and the key banking sector indicators in January this year compared to last year. The key highlights from January 2025 monthly monetary bulletin showed that the total assets of commercial banks witnessed year-on-year expansion by 3.3 percent to reach QR2.04 trillion. There was also an increase of 0.6 percent in the total domestic deposits on yearly basis to reach QR837.3bn in January this year. While the domestic credit in January 2025 grew by 3.6 percent year-on-year to QR1.31 trillion. QCB post further stated that the total broad money supply (M2) decreased by 0.7 percent to reach QR729.9bn in January 2025 on a year-on-year basis. Qatar has been following the Qatar National Vision 2030 (QNV) long-term development plan, which outlines the objective of economic diversification, with financial services – including banking – playing a pivotal role in this endeavour. Consistent with this vision, the QCB itself has published a series of long-term strategies with the release of the Third Financial Sector Strategic Plan. This plan for the sector aligns with and complements the broader goals of the (NDS-3). The NDS-3 outlines seven strategic national objectives for the coming period, ranging from sustainable economic growth, to quality of life and societal cohesion. The achievement of sustainable economic growth hinges on diversifying away from hydrocarbons, with a number of clusters proposed for this purpose. These clusters are further categorised into growth, enabling, resilience and future clusters, with financial services seen as one of three enabling factors. The banking sector is undergoing a transformative shift, adapting to global economic trends and embracing technological advancements. This evolution is marked by a commitment to risk management, FinTech innovation, and international standards, positioning the sector for sustained growth and stability. In recent years, the banking sector in Qatar has been characterised by continuous growth and stability, which has consolidated its position as a major player in the regional financial landscape. To maintain the sustainability of this progress, the country's regulators have always actively played their part, relentlessly adapting to evolving economic conditions and international standards.
Zawya
28-01-2025
- Business
- Zawya
90% of GCC including Qatar CEOs confident of revenue growth in 2025
Doha, Qatar: CEOs in the Middle East and Qatar are among the most confident globally about revenue growth in 2025, as revealed in PwC's 28th Annual CEO Survey. Yet the survey also finds that regional chief executives are aware of the huge wave of disruptive change, primarily driven by AI, climate challenges and an intensifying competition over new domains of growth as industry lines blur. In summary, the survey reveals that our region's CEOs are striking a difficult balance - capturing the significant market opportunities today while also reinventing their businesses for tomorrow. PwC's annual survey of CEOs globally and across the Middle East and Qatar reflects the collective voice of business leaders - offering valuable insights into the opportunities they see, the challenges they face and the path forward. This year the survey captured more Middle East and Qatar responses than ever before, with almost 300 chief executives sharing their views. The regional and local findings reveal strong confidence amongst CEOs in their companies' revenue growth, with those in the GCC particularly optimistic about revenue growth in 2025 (at 90%). 61% of GCC CEOs also expect to increase headcount this year, compared to just 42% of their global peers, and up from 55% in 2024. However, one third (34%) cited skills shortages as a major concern. Commenting on the findings, Hani Ashkar, PwC Middle East Senior Partner, said: 'The Middle East's optimism reflects a remarkable ability to adapt and innovate in the face of global challenges. CEOs in the region are adopting bold strategies to drive growth and competitiveness, advance sustainability and integrate AI into their businesses." "These efforts are reinforcing the region's role as a dynamic hub for business and investment, ensuring long-term value creation for stakeholders and communities alike.' Bassam Hajhamad, Qatar Country Senior Partner and Consulting Lead, PwC Middle East commented: 'Qatar is transitioning to a knowledge-based economy, where businesses are embracing AI, innovation, and sustainability to drive long-term growth. NDS-3 has been pivotal in guiding the way forward for CEOs and enabling businesses to align with national priorities and make a larger impact on the economy.' © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
