QCB issues QR600mn treasury bills for August

Qatar Central Bank (QCB) issued on Tuesday treasury bills for August, for three, six and nine months, with a value of QR 600 million. In a statement on its website, QCB said that the treasury bills were distributed as follows: QR 300 million for three months at an interest rate of 0.59 percent, QR 200 million for six months at an interest rate of 1.97 percent, and QR 100 million for nine months at an interest rate of 2.24 percent. This issuance comes within the framework of QCB's endeavor to develop the monetary policy in the State of Qatar, increase its effectiveness, contribute to the strength of the banking and financial system, activate the open market tools as one of the monetary policy tools, and implement the coordination mechanism between fiscal and monetary policies. The issuance is also part of a series of issues executed by QCB on behalf of the Government of the State of Qatar, according to the schedule previously prepared by QCB, and in coordination with the Ministry of Finance. Treasury bills are issued through auction for banks operating in Qatar.