Foreign deposits in Qatar banks resume rising as embargo impact eases

Foreign deposits in Qatar banks resume rising as embargo impact eases:

"Deposits by foreigners in Qatari banks rose in December for the first time since other Arab countries imposed an embargo on Doha last June, data from Qatar’s central bank showed on Tuesday.

Banks and investors from Saudi Arabia, the United Arab Emirates, Bahrain and Egypt began pulling deposits and other funds out of Qatar in June, when those four nations cut diplomatic and trade ties with Doha.

But in December, deposits in Qatari banks by customers located abroad rose by 2.2 billion riyals ($606 million) from the previous month to 137.1 billion riyals, the data showed. They stood at 184.6 billion riyals in May, before the embargo."



'via Blog this'