Qatar's Doha Bank cuts UAE exposure with asset swaps -sources | Reuters

Qatar's Doha Bank cuts UAE exposure with asset swaps -sources | Reuters:

Qatar’s Doha Bank has cut its exposure to the United Arab Emirates though an asset swap with UAE banks amid strained relations between the two countries, four sources said.

As part of moves by some Qatari companies to try to trim exposure to the Gulf’s main financial and wealth centre, Doha Bank has been in talks with UAE banks to sell some of its loan book and other assets since last year.

Qatar has been locked in a protracted dispute with Saudi Arabia, the UAE, Bahrain and Egypt since June 2017 when the four accused Qatar of backing terrorism, something Doha has denied.