From quiet beginnings as one of the world’s smallest states, Qatar has emerged as a regional player as a result of shrewd investment in natural gas and sound economic management. Although oil and gas revenues still account for about 60% of GDP, the non-oil sector grew by 10.8% last year, and the financial sector is performing particularly strongly.
According to the Qatar Central Bank, local commercial banks’ total assets at the end of 2004 stood at QR92 billion (more than $26 billion).
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