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Fitch puts Qatar Islamic Bank on watch
Fitch Ratings said it placed Qatar Islamic Bank's long-term issuer default rating of A on rating watch negative.
“The RWN reflects the Qatari banking sector's increasing reliance on external funding and recent rapid asset growth, which may have moderately weakened the sovereign's ability to provide support to the system, in case of need,” Fitch said in a press release.
The agency said it plans to resolve the RWN after further analysis of the composition and stability of Qatari banks' non-resident funding, the evolution of this funding in volumes and sources, banks' liquidity-management plans and the sovereign's ability to provide liquidity support to banks, if needed.
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