Mubasher: The Qatar Central Bank (QCB) on Tuesday announced issuing QAR 500 million ($138.8 million) treasury bills (T-bills) on behalf of the finance ministry.

The T-bills are issued through an auction for banks operating in Qatar, according to QCB’s statement released on Tuesday.

The issue is part of the central bank’s monetary policy initiatives and efforts to strengthen the financial system as well as activate the tools available for the open market operations.

The first tranche of T-bills issued through three-month notes at QAR 200 million with a yield of 2.18%.

With a yield of 2.48%, the second 6-month tranche stood at QAR 200 million, while the third tranche of the nine-month bills reached QAR 100 million, the statement showed.