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Sunday, 11 June 2017

MIDEAST STOCKS-Qatari banks fall after UAE red flag; UAE's Dana Gas, DSI rise | Reuters

MIDEAST STOCKS-Qatari banks fall after UAE red flag; UAE's Dana Gas, DSI rise | Reuters:

"Shares in Qatari banks fell on Sunday after the United Arab Emirates central bank ordered UAE banks to be wary of accounts which they hold with six Doha-based lenders, while Dana Gas and Drake & Scull outperformed in the UAE. As the diplomatic crisis in the region continued, the UAE told its banks to stop dealing with 59 individuals and 12 entities with alleged links to Qatar, and advised its banks to conduct "enhanced due diligence" towards the six Qatari lenders. Five of the six are listed on the market: Qatar National Bank, Qatar Islamic Bank, Qatar International Islamic Bank, Masraf Al Rayan and Doha Bank. All of them fell on Sunday with Islamic lender Masraf Al Rayan, the biggest loser, down 4.0 percent."



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