DUBAI (Reuters) - Qatar's government has enough reserves to support its banks in the face of sanctions imposed by other Arab states, central bank governor Sheikh Abdullah bin Saud al-Thani said in a statement on Wednesday.
“The governor said that the government and the central bank are able to support banks with the holdings of the large sovereign wealth fund and the large state reserves,” the statement read.
Sheikh Abdullah dismissed reports of strain on the banking system as fake news and rumors, adding that domestic liquidity was up 8.3 percent at the end of July while the monetary base had grown 1.7 percent. He did not specify whether those growth rates were year-on-year or month-on-month.
(Reporting by Hadeel Al Sayegh, Sylvia Westall and Sami Aboudi; Writing by Andrew Torchia)