The Qatari banking sector is entering a new phase of high growth in 2008. In its latest report, Global Investment House (GIH) believes that banking penetration in Qatar has been accelerating over the last few years. GIH states the ratio of credit deployment to GDP has increased to 49.6% at the end of 2006, and is estimated to have hit 69.1% in 2007 due to deceleration in the country’s overall GDP growth rate. Diversity and expansion top the Qatari financial sector’s list of strategic economic priorities. Economic growth has been augmented with proactive macroeconomic initiatives. Qatar continues to adopt and implement new regulations, with the aim to “make the investment environment more investor friendly,” according to GIH. In addition, Qatar has made several positive moves to attract foreign investors, as exemplified by the creation of the Qatar Financial Center (QFC). It acts as a national institution seeking to draw “international
