The Qatar Investment Authority, a sovereign wealth fund, has big stakes in Agricultural Bank of China Ltd., Barclays Plc, Credit Suisse Group AG and Tiffany & Co. It owns London department store Harrods outright.
As Qatar’s government has spread its financial wings, the country’s biggest financial institution, Qatar National Bank, has been at its side. Under Ali Shareef Al Emadi, its chief executive officer since 2005, QNB has become the largest lender in the Middle East and one of the most profitable. Even as the bank has expanded, Al Emadi has maintained QNB’S capital base and aversion to risk.
As a result, based on its performance in fiscal year 2012, Qatar National Bank is No. 1 in Bloomberg Markets’ third annual ranking of the world’s strongest banks.
The convulsions that have rippled across the region, including the Arab Spring revolts and a near default in the nearby emirate of Dubai, have only brought new money to Al Emadi’s door.
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Mingze Wu
centers on forex and macro-economic trends impacting the Asia Pacific region.
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