Qatar to suspend bond transferals from Egyptian bank | Egypt Independent

Qatar to suspend bond transferals from Egyptian bank | Egypt Independent:

"The Qatari government notified the Egyptian government on Monday of its decision to indefinitely suspend bond transfers from the Central Bank of Egypt (CBE) to the Qatar National Bank (QNB), according to Turkish news agency Anadolou. The Qatari government had previously deposited $2 billion in the CBE as part of an aid package.

The official noted in a telephone conversation with Anadolu that the Qatari government stated the following in its notification: “Qatar will postpone the rest of the bond package program previously agreed between Egypt and QNB Bank. A representative of the Qatari government will determine a further meeting to notify the Egyptian government."

Beginning in July, Egypt has been transferring the $2 billion deposit received from Qatar to fixed term bonds."

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