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CB Governor Ajith Cabraal makes bilaterally beneficial arrangements with Qatar

Central Bank Governor Ajith Nivard Cabraal met his Qatari counterpart, the Qatar Central Bank Governor Sheikh Bandar Bin Mohammed Bin Saoud Al-Thani, in Doha on Tuesday. 

In a statement, the Central Bank said bilaterally beneficial arrangements had been initiated between the two Central Banks during the meeting.

Discussions had also been held on strengthening bilateral ties and working relationships between the financial intermediaries of Qatar and Sri Lanka.

“Had an excellent discussion on the way forward of @CBSL & QCB collaboration & SL-Qatar economic ties with the newly appointed #Governor of Qatar Central Bank Sheikh Bandar Bin Mohammed Bin Saoud Al-Thani on 4Jan22,” Cabraal tweeted yesterday.

Senior officials of both the central banks and the Ambassador of Sri Lanka in Doha, State of Qatar Mafas Mihideen had attended the discussion, it added. 

In December 2021, it was reported that discussions were underway for a currency swap agreement for over $ 1 billion to be signed between the Central Banks of Qatar and Sri Lanka.  

There are about 210 Sri Lankan companies operating in Qatar with a capital of about QR45.5 million. more Sri Lankan companies have been invited to take part in renaissance taking place in Qatar.

Qatar-Sri Lanka Joint Committee for Economic and Technical Cooperation to be held  in Colombo would further boost trade ties between the two countries.

Qatari businessmen are looking to identify the investment opportunities available in Sri Lanka and build cooperation with businessmen there, leading to the establishment of alliances and partnerships that result in joint projects in both countries.

Underlining the vast potential of increasing trade volume between the two countries, the SLCB governor  added that Qatari market was an important destination for Sri Lanka.

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