Banking
August 04, 2020
IFN Daily Update: Qatari Islamic Banks' Profitability Will be Hit By Lower Profit Rates - Fitch Ratings

This edition of the Islamic Finance Daily Update anchored by  Bukola Akinyele focuses on the latest results of Qatari Islamic Banks' Profitability which will be hit by lower profit rates, lower business volumes, and higher financing impairment charges in 2020, as a result of lower oil prices and the coronavirus pandemic.

 

Fitch Ratings in its analysis on the result said the Asset quality will also weaken, but the true impact will be masked in the short term by financing deferral programmes and regulatory flexibility for banks to recognize impairments.

 

Also, World Tourism Organization revealed that 40% Global Tourism of destinations worldwide have now eased restrictions on international tourism put in place in response to the novel coronavirus.

Watch Video Courtesy WebTV NG

 

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