UAE's biggest lender FAB to shut Qatar operations amid row with Doha - Reuters:
First Abu Dhabi Bank, the biggest lender in the United Arab Emirates (UAE), said on Wednesday it will close its sole branch in Qatar, citing Doha’s regulatory actions against the bank.
The move came after a Qatari regulator earlier this month placed more business restrictions on First Abu Dhabi Bank (FAB), as Doha continues a probe into alleged currency manipulation which began after the UAE and other Arab states launched a boycott against Qatar in mid-2017.
The Qatar Financial Center Regulatory Authority (QFCRA) prohibited FAB from undertaking any new business for customers at its branch, housed in the Qatar Financial Centre (QFC).
No comments:
Post a Comment