QIB’s Gamal warns of profit threat to every bank

Profit pressure is a threat to every bank, says Qatar Islamic Bank’s group CEO Bassel Gamal, discussing how Qatar’s robust and well-capitalized banking sector is navigating the twin shocks of lower oil prices and coronavirus.

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Never letting a good crisis go to waste, to borrow a phrase from Winston Churchill, Qatar has used a three-year fall out with its Gulf neighbours to shore-up its economy and finances.

However, even the world’s richest nation per capita is not immune to the Covid-19 crisis, and growth is forecast to slow to minus 2% in 2020 after an estimated 0.6% positive growth in 2019, according to Fitch.

At the helm of the Gulf state’s largest Islamic lender Qatar Islamic Bank (QIB) is Bassel Gamal.

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