17 Apr 2018 - 0:00
Qatar doesn’t need to liquidate investment assets
DOHA: Qatar Investment Authority (QIA) Chief Executive Officer Sheikh Abdullah bin Mohammed bin Saud Al Thani (pictured) said that the State of Qatar does not need to liquidate its investment assets to support the banking system and it has a strong economy and its financial budget is increasing year by year.
In an interview with the Lusail newspaper on the sidelines of his visit to US Miami city in Florida, the QIA Chief denied that the Authority liquidated any of its assets to support the Qatari banking system during the Gulf crisis, which began last June by the siege of Qatar. He also said that the QIA completed the “deal of a lifetime” which will be announced in the coming days, QNA reported.
Sheikh Abdullah added that the Authority is continuing its operations and investments around the world, pointing out that there is a major deal in Miami to be announced in the next few days and will be the ‘deal of a lifetime’ for the Authority. He did not specify in which sectors or the cost of the deal.
Sheikh Abdullah also denied reports that the QIA disposed its assets around the world, stressing that it is unfounded news, pointing out that there may be normal sales to engage into other investments or seize the opportunity when the return on investment reaches its peak.
He also explained that the restructuring process carried out by the Investment Authority for local companies during the last two years was successful and that these companies are growing significantly.