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Wednesday, 9 August 2017

Abu Dhabi informally boycotts western banks with big Qatari investors

Abu Dhabi informally boycotts western banks with big Qatari investors:

"Abu Dhabi has launched an informal boycott of western banks with significant Qatari shareholders, broadening the impact of the Arab quartet’s two-month embargo against the gas-rich state.

Officials have told bankers that lenders such as Credit Suisse, Deutsche Bank and Barclays are unlikely to win significant mandates in the capital of the UAE in the coming months because of large shareholdings held by Qatar’s sovereign wealth fund and members of the ruling family.

Saudi Arabia, the UAE, Egypt and Bahrain launched an economic embargo on June 5, accusing the gas-rich state of supporting terrorism, claims denied by Doha."



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