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The Qatar Central Bank is the nodal bank of the country of Qatar. It is responsible for maintaining the financial stability and integrity of the Qatari currency in addition to determining the fiscal policy of Qatar state.
The Qatar Central Bank commenced operations in 1993. The principal task of the Qatari bank is to issue the Qatari Riyal in the domestic market. The central bank of Qatar also performs the function of being the preferred banker to the government of Qatar. It also facilitates banking services for a range of other public economic activities. The Qatar Central Bank also helps to raise the operational standards of local Qatari banks operating in the region. The bank is also preparing for the competition posed by foreign multinational banks that are making steady inroads into the country of Qatar.
The Qatar Central Bank also offers appropriate guidance to the banks operating in the Emirate of Qatar. The Qatar bank has issued clear guidelines on Islamic banking to all banks conducting business in Qatar. The bank also offered privatization procedure advice to Qatari banks holding a major share in companies listed in Qatar. The Qatar Central Bank also issues advisories for modernizing the systems of the different financial banks operating in the Qatari Emirate.
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