The Qatari banking sector has run into a series of crises, including a drop in liquidity and a decrease in the production of some companies enlisting their shares in the stock exchange.
This is making the deterioration of the Qatari economy worse, especially in the light of the misguided policies of the Central Bank of Qatar.
The same policies compound the manipulation Qatari Emir, Sheikh Tamim bin Hamad, imposes on Qatar’s monetary policies by ordering his country’s financial institutions to dedicate huge funds for terrorist groups across the world.
Most of the 46 companies enlisted in the Qatari stock exchange had failed in submitting reports about their profits, losses and spending, according to a report that came out on February 6.
Three companies working in the financial services sector failed to submit their own reports. Six companies working in the field of services and consumer goods did not submit their reports either. Five industrial companies did the same.
According to the report, about half of the companies enlisted in the stock exchange did not submit their reports for 2019. The same companies posted information on their websites about the losses they made during the same year. Qatar National Cement Company had decided to shutter two of its plants. Tiba Company said it had incurred losses of $2.8 million. The same company said that its shares had lost value.
According to the Central Bank of Qatar, there is a drop in overall deposits in the banks. Foreign currency liquidity had also been affected, according to the central bank.