Coronavirus: Qatar offers guarantees to local banks worth 3 bln riyals

A man wears a protective face mask, following the outbreak of coronavirus, as he pushes a cart in Souq Waqif in Doha, Qatar, March 12, 2020.

Qatar allocated on Sunday guarantees to local banks worth three billion riyals ($824 million), as part of the country’s measures to support the economic sector amid the coronavirus pandemic, state news agency QNA reported.

This is the latest in a series of measures Qatar has taken to shield its economic and financial sectors from the impact of the coronavirus pandemic.

Visit our dedicated coronavirus site here for all the latest updates.

Qatar's Emir had announced earlier in the month a QR 75 billion ($20.6 billion) stimulus package for the economy, a directive to government funds to increase their investments in the stock exchange by $2.75 billion, and an order for the central bank to provide increased liquidity.

Sectors including hospitality and tourism were also exempted from electricity and water fees for six months.

Qatar has 634 confirmed coronavirus cases and one fatality due to the virus as of Sunday, according to the health ministry.

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Last Update: Wednesday, 20 May 2020 KSA 14:12 - GMT 11:12
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