Qatar's central bank governor, Sheikh Abdullah bin Saud al-Thani, has announced that the bank is preparing a strategic plan to regulate the financial sector, including modern means of detecting and combating terrorist financing and money laundering.
The Qatar Central Bank is in the process of launching the second strategic plan to regulate the financial sector 2017-2022, which comes as a result of the fruitful effort and cooperation between the three regulatory bodies, "the Central Bank of Qatar, Qatar Financial Markets Authority, Qatar Financial Center "and in light of Qatar National Vision 2030".
He also pointed out that the new strategy includes the latest means of detecting and combating money laundering and terrorism financing, focusing on developing the human element in the financial sector and creating cadres with international professional standards.
On the other hand, the Governor denied the existence of any liquidity crisis in the Qatari banking system. He said that the liquidity of the Qatari banking system is normal and bank deposits at the bank currently exceed 39.3 billion riyals (10.7 billion dollars). Central Bank on a monthly basis.
Saudi Arabia, the United Arab Emirates, Bahrain and Egypt have been boycotting Qatar since June 5 and have closed all air, land and sea fields with them and banned banking and commercial dealings with Qatar, accusing Doha of funding terrorist groups and groups.