Qatar Central Bank Issues Treasury Bills Worth QR 1 Billion

Doha, July 04 (QNA) - Qatar Central Bank (QCB) issued Treasury Bills (T-Bills) today for the period of 3, 6 and 9 months, where the total amount of issuance is (QR 1 billion) and the total amount of banks' subscription is approximately (QR 1.5 billion). In a press release today, QCB said that the issuance is according to the calendar prepared by the Central Bank and is with the view of the QCB's efforts to develop the monetary policy in the State of Qatar and increasing its effectiveness and contribution to the strength of the banking and financial system and activate the instruments for the open market operations as one of the instruments of monetary policy, and in order to implement the mechanism of coordination between the monetary and financial policies. This issuance comes within a series of Treasury Bills (T-Bills) issuances by the Central Bank on behalf of the Government of the State of Qatar. It is also worth mentioning that Treasury Bills (T-Bills) issuance is Auctioned the first Tuesday of each month, according to the plan of the Qatar Central Bank in coordination with the Ministry of Finance. This contradicts with what has been announced by some media outlets about the abstention of the Qatar Central Bank to issue Treasury bills. (QNA)