The net foreign assets deficit of commercial banks in Qatar decreased by the end of last July by 15.2% on an annual basis to about 409 billion riyals.
The value of liabilities on commercial banks in Qatar decreased by 7.5% on an annual basis to 658.6 billion riyals, compared to an increase in assets by 9% to reach about 250 billion riyals. While the total net domestic assets decreased by 1 percent on an annual basis to 934.6 billion riyals, supported by an increase in credit by 7% to reach 1.03 trillion riyals, compared to a decline in net claims on the government by 23 percent to about 196.5 billion riyals.
The money supply (m2) in Qatar grew during the month of July by 10.7% on an annual basis to reach 675.2 billion riyals. The growth of domestic liquidity (M2) was supported by a rise in quasi-cash to more than 514.4 billion riyals, driven by an increase in foreign currency deposits by 38.5 percent to 226.5 billion riyals, against a decline in time deposits by 4.3 percent to 287.9 billion riyals. On the other hand, the money supply (M1) declined by 5.9 percent on an annual basis to reach 160.8 billion riyals, pressured by the decline in demand deposits to 148.8 billion riyals, compared to the increase in cash in circulation to about 13 billion riyals.
Source (CNBC Arabic Website, Edited)
