Sunday 18 March 2018

Qatar asks US to investigate UAE bank for 'financial warfare' - The Peninsula Qatar

Qatar asks US to investigate UAE bank for 'financial warfare' - The Peninsula Qatar:

"Qatar has asked US regulators to investigate the US subsidiary of the largest bank in the United Arab Emirates, accusing it of "bogus" foreign exchange deals designed to harm its economy as part of a blockade by Gulf neighbours.

The Central Bank of Qatar's law firm has written a letter to the US Treasury asking it to investigate NBAD Americas, the US subsidiary of First Abu Dhabi Bank (FAB), which is majority state-owned.

In a second letter, the lawyers - Paul, Weiss, Rifkind, Wharton & Garrison - asked the US Commodity Futures Trading Commission (CFTC) to investigate possible manipulation of Qatar's currency, the riyal."



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