from the desk

Microfinance was hailed as a survival tool that lifted 10 million Bangladeshis out of poverty between 1990 and 2008, a saviour of the poor that empowered women by stimulating income-generating activities by providing collateral-free loans.
But its repayment structure and the apparent inability of micronance institutions to determine whether borrowers have multiple loans with other institutions rarely come under scrutiny. And now it has reached a point where the poor in Bangladesh have fallen into a vicious cycle of borrowing money from other NGOs to repay existing loans, leaving many ultimately unable to repay and some having to take extreme measures for repayments. As with any lending regime, all gaps have to be covered to have an efficient system in place, especially since the livelihood of the poor is dependent on these tools. Qatari banks have a different story to tell, in a setting very different from poverty-stricken Bangladesh. With a strong net foreign asset position (high and rising international reserves and a large sovereign wealth fund) and high hydrocarbon revenues, Qatar is well insulated from the capital ight risks faced by other emerging markets. But another major factor contributing to the growth of assets is the major diversication that many local banks, like QNB, Doha Bank and QIB, are indulging in. One Qatari bank leads the list of the fastest-growing banks, globally and its asset growth was driven by the strategic acquisition of NSGB in Egypt, and higher international stakes. It is this lure of foreign lands, the risks involved and the growth that is inevitable for these asset-hungry local banks that Qatar Today is focusing on this month in its cover story. Even with double-digit growth gures and a strong banking structure, the country has still not been able to shake off its demons; the labour issues that rankle international organisations are still marring its reputation. And it doesn't help to have images of lewd sheikhs ashing on our TV screens, all thanks to Hollywood movies and the lazy stereotypes they resort to while depicting Arabs, an issue that Dr Jack Shaheen has researched for years and shares with Qatar Today in this issue. Giving us a glimpse of stronger content from regional and other celebrated lmmakers is Doha Film Institute, which brings two completely diverse lm festivals to the country. Traffic gridlock still remain a major topic of conversation in a bursting-at-the-seamsDoha. At this stage, the Doha Metro project is awaited with much anticipation. A project that will change the dynamics of transportation, and even try to obliterate the status of Qatar as one of the most polluting countries in the world, when it becomes part of a larger network in the GCC railway project. Qatar Today talks to rail and metro experts to highlight the dynamics involved in such a huge venture. HaPPY Reading.
SINDHU NAIR