Abu Dhabi was cool, more on that later . . .
As for the unified Gulf currency planned for 2010, an economist says it is unlikely to happen. Oman has backed out, Kuwait removed their currency peg, and the UAE is starting to waffle on the idea. Looks like a common currency is out. Shame, I appeciated how much introducing the Euro simplified things, and a GCC currency could have done the same.
In other banking news looks like the Central Bank is getting "tough" with banks lending money to individuals. Now such loans are capped at something like QR2.5 million (a paltry US$686,000) and the maximum repayment term is 84-months. That's cracking down?? No wonder these banks have so many defaults if they are willing to lend large sums like that over 7-years.
In 2006 I moved to Qatar and things are not what many people in North America would expect - it is not like how the Middle East is portrayed in the media. I'm also a fan of skepticism and science so wondered how this works here in Qatar. Since I'm here for a while I figured I'd use the time to get to know this country better and with this blog you can learn along with me. - - - - - - - - - - - - - - - - - - - - - - - So what posts have been popular recently . . .
Popular Posts
- Arab Card Games
- Varieties of Dates
- Marriage tips from FANAR
- Mall of Qatar is now open!
- Qatar Coronavirus Updates - Omicron Still Sweeping the Country
- Qatar Coronavirus Updates -- With Relaxed Restrictions Comes More Cases
- The Passing of Queen Elizabeth II
- How to Get or Renew a Liquor Permit
- 2021 FIFA Arab Cup
- Reflections of 2016
Tuesday, September 04, 2007
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1 comment:
I used to love saying "Abu Dhabi". Not sure why?
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