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FINANCIAL NEWS
Qatar CB limits personal loans
17 Apr 2011
(MENAFN) Qatar’s Central Bank issued a circulation highlighting the new rules for personal loans including size and maturity period, reported Bloomberg.
The central bank stated that Qatari nationals are now limited by around USD0.55 million at max for personal loans that mature over no longer than six years.
On the other hand, commercial banks in the country were concerned regarding the new regulations as they might slow growth in the country as well as cut profits of commercial banks.
It is worth noting that the circulation was published also in local newspapers in order to make citizens familiar with the new procedures.
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