Qatar Economic Outlook Issue Number 13

Figure 2-7: QCB measures to stabilize 
domestic liquidity (percentage points & %) 
13.3
4.5
-20
-15
-10
-5
0
5
10
15
20
25
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
(Nov)
2019
2020
2021
Other Assets
Balances with Local Banks
Foreign Securities
Balances with Foreign Banks
Total assets of QCB (%)
Source: QCB and prepared by PSA
Figure 2-8:
 
Development of commercial banks 
foreign assets (Percentage points and %)
 
15.9
1.3
-15.0
-10.0
-5.0
0.0
5.0
10.0
15.0
20.0
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
(Nov)
2019
2020
2021
Other assets
Credit Outside Qatar
Due from Banks Abroad
Foreign assets of commercial banks (%)
Source: QCB and prepared by PSA

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Part 2 - Economic Performance 2017 - 2020 
 
 
57 
Based on the foregoing, it is clear that as a 
result of the uncertainty caused by the 
measures taken to contain Covid-19, the 
contribution of non-resident deposits in the 
growth of deposits of the banking system 
markedly scaled down during Q2 of 2020.
Then its contribution recovered significantly 
since the beginning of Q4 of 2020 until it 
became the main driver of growth in total 
deposits during the first three quarters of 
2021, but it is noted from Figure (2-9), that its 
contribution decreased during Q4 of 2021, 
perhaps, reflecting a policy implemented by 
commercial banks for the purpose to 
rationalize the process of accepting the inflow 
of Non-resident deposits in order to avoid 
their future risks - for example - if they outflow 
suddenly. 
As for the contribution of individual deposits, 
it increased during Q2 and Q3 of 2020 due to 
uncertainty and a preference for saving 
rather than consumption. Nevertheless, it 
also witnessed a decline since the beginning 
of Q4 2020 after the lifting of precautionary 
restrictions, and its contribution became 
smaller still during all quarters of 2021.
As for private companies and institutions, 
their contribution to deposit growth remained 
modest during the first three quarters of 
2020, before rising relatively in Q4. 
Thereafter, their contribution stabilized 
during the quarters of 2021. 
Public institutions’ deposits, albeit at a small 
percentage, 
continued 
to 
contribute 
positively to the growth of total deposits from 
Q2 of 2021 until November 2021.
Government deposits have contributed 
positively during the periods of implementing 
the virus containment measures, whether 
during 2020 and until the first quarter of 2021, 
but their contribution declined during the last 
three quarters of 2021.