By Sachin Kumar
DOHA: Commercial Bank is planning to raise funds from the market by the end of third quarter this year.
“We are thinking about raising funds and will see how can we do it at the moment. Probably, this will come at the end of, may be, third quarter,” said Abdulla Saleh Al Raisi (pictured), CEO, Commercial Bank, talking to reporters on the side lines of branch opening yesterday.
Commercial Bank yesterday officially reopened its Al Wakrah Avenue branch to provide banking services for the Al Wakrah community. The bank has plans to further expand its presence across Qatar by opening three new branches in coming months.
“We are reviewing the existing branch network and possibly will have to add few more,” said Al Raisi. The bank will open branches in West Bay, Boulevard and Lusail in coming months. He added that the bank has not tightened rules for retail lending for customers.
The chief executive officer said that the bank is not facing in liquidity shortage and is in comfortable positions in terms of liquidity.
“Liquidity all over the world is tightening but luckily Qatar is least affected market due to the wise leadership of Emir H H Sheikh Tamim bin Hamad Al Thani,” said Al Raisi.
Slowdown in global economy has led to tightening of liquidity in the financial system. Central banks in the developing world have divested some of their foreign exchange reserves in an attempt to prop up the value of their domestic currencies amid the carnage in commodity prices. This development, in theory, puts upward pressure on US Treasury yields as central bankers sell the debt, effectively tightening global liquidity and weighing on risk assets. The Peninsula
