QCB issues QAR 2.5B treasury bills, Islamic bonds
(MENAFN) On August 1, 2024, the Qatar Central bank (QCB) made a significant announcement regarding the issuance of treasury bills and Islamic bonds, amounting to a total of QR 2.5 billion. These financial instruments span a range of maturities, including 7 days, 28 days, 91 days, 182 days, 301 days, and 364 days. Specifically, QR 300 million was allocated to a new 7-day treasury bill issue, which offers an interest rate of 5.7822 percent. Additionally, QR 500 million was issued for a 28-day treasury bill, with an interest rate of 5.7954 percent, which extends an existing issue. Another QR 500 million was dedicated to a 91-day treasury bill, set at an interest rate of 5.7459 percent, and QR 500 million was allocated to a 182-day treasury bill at 5.5707 percent, also extending a prior issuance.
Furthermore, QR 500 million was assigned to a 301-day treasury bill at an interest rate of 5.3294 percent, marking an extension of an existing issue. For the 364-day treasury bill, a new issuance of QR 200 million was made at an interest rate of 5.2235 percent. This diverse range of maturities highlights the QCB's strategy to meet various investment needs and market demands.
The issuance garnered strong interest from private bidders, with the total bids for these treasury bills and Islamic bonds reaching QR 7.9 billion. This high level of demand underscores the robust interest in Qatar's financial instruments and reflects the ongoing confidence in the country's financial sector. The substantial bidding activity indicates a favorable market reception and the significant role these instruments play in Qatar's financial landscape.
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