Money matters bulletin

Regional stock market indices: Regional currency rates: Qatari banks’ 2010 results hit record highs Qatari banks are expected to have registered new all-time high net profits of $3.7 billion in 2010, according to the preliminary releases by the sector’s leaders. Total net profits up until September had amounted to a record $2.55 billion, supported by new regulations following the global financial crisis. Similarly, banking activity was encouraged into further diversification after conventional banks were prohibited from allocating more than 10 percent of their capital into Islamic finance. Of the best performers, Qatar National Bank, the country’s largest lender by market capitalization, posted a 41.3 percent leap in its fourth quarter profits to $410 million, bringing its yearly net profits to $1.57 billion. Al Rayyan Bank profits soared 52 percent to $250 million from $164 million in 2009. Qatar’s final positive jolt this year was winning its bid to host the