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Qatar Bank CEO Says Liquidity Is a ‘Bigger Issue’ Than in 2008

  • Doha Bank ready to raise debt following shareholder approval
  • CEO says willing to participate in government’s bond sale
Raghavan Seetharaman.

Raghavan Seetharaman.

Photographer: Chris Ratcliffe/Bloomberg
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The shortage of liquidity in Qatar is more serious than during the financial crisis, forcing the country’s lenders to adapt their businesses to the low oil-price environment, according to Doha Bank QSC Chief Executive Officer Raghavan Seetharaman.

“Liquidity is a much bigger issue today than it was in 2008,” he said in a TV interview with Bloomberg Markets Middle East on Tuesday. “All of the Gulf countries were running a fiscal surplus and current account surplus in 2008, today they’re running a fiscal and current account deficit. Every institution, including Doha Bank, has to redefine its business model."