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Qatar told to develop wealth management

Boston Consulting Group (BCG) has said Qatar's banking sector should develop its wealth management services to profit from the large number of high net-worth individuals in the wealthy Gulf state, Reuters has reported. "There is a large opportunity for local banks to seize. But so far in Qatar, there hasn't been a bank that has got the business model right," Douglas Beal, managing director at BCG, said. Qatar has the third-highest density of millionaires in the world after Singapore and Switzerland.