QR4bn bonds, sukuk offer from QCB set to ‘boost local funding’

The Qatar Central Bank’s (QCB) move to offer QR4bn of bonds and sukuk is “positive” and will enhance options for domestic financing and reduce reliance on foreign funding, according to Beltone Financial.

“The issuances are seen as part of continued efforts by Qatari authorities to facilitate liquidity management and deepen local financial markets by extending the domestic bond yield curve,” Beltone said in a report.

The QCB recently announced that it will offer QR3bn three-year bonds and QR1bn five-year sukuk on a quarterly basis starting this month.

“Recent efforts to develop local debt markets are positive, and will enhance options for domestic financing and reduce reliance on foreign funding,” it said, adding the authorities have also taken steps to list government bonds in addition to treasury bills on the Qatar Exchange and set up a domestic credit rating agency.

Read more: http://www.gulf-times.com/business/191/details/346389/qr4bn-bonds,-sukuk-offer-from-qcb-set-to-%E2%80%98boost-local-funding%E2%80%99