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Thursday, 15 June 2017

International lenders support Qatari banks hit by regional rift | Reuters

International lenders support Qatari banks hit by regional rift | Reuters:

"A few large Asian, European and U.S. banks are providing funds to help to keep Qatari banks running smoothly after a diplomatic rift has dried up financing from the United Arab Emirates, Bahrain and Saudi Arabia, banking sources said.

The foreign banks' support is critical for Qatari banks, whose reliance on international funding has grown sharply over the years to about $50 billion as of April, or around a quarter of their domestic loans, Standard & Poor's estimated. That is up from 13.2 percent at the end of 2015.

Saudi Arabia, the UAE, Bahrain and Egypt last week severed diplomatic relations with Qatar, accusing it of support for Islamist militants and Iran. The UAE has also decided to blacklist Qatari individuals and entities."



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