Qatar To Aid Banks

Qatar is buying the investment portfolios of seven of the nation's banks,in order to bolster confidence in the resource-rich nation.According to the Doha Securities Market,the portfolios will be purchased with the assistance of Qatar Central Bank by the end of March.To date,Qatar has avoided debt and political strife from the financial crisis,unlike some of its Gulf neighbors.Its economy is regarded as sound.Qatar should continue to experience growth through the downturn.In response to the bank news,the Qatar stock market shot up about 9%.