Qatar – Establishing local credit agency strengthens financial sector
Saturday, 06 18 2016, Category: Insurance and Reinsurance, Country: Qatar
A number of financial sector experts confirmed that establishing a local credit rating agency for banks and insurance companies would strengthen the banking sector in the country, indicating that in case this agency earns regional and international recognition, it will have a positive impact on GCC countries.
They noted that the presence of such a local agency could spread trust in the rating results and decrease dependence on international financial companies which are not always objective in their ratings.
They indicated that the new rating agency could take advantage of the huge expertise and human resources present in the financial sector since they better know how to tackle economic activities and the economic challenges of the financial sector in the country.
Source: Al Raya