Doha – Mubasher: There are no disruptions to Qatar’s domestic or international transactions, Qatar News Agency (QNA) reported on Monday, citing a statement by sheikh Abdullah bin Saud Al-Thani, governor of the Qatar Central Bank (QCB).
The country’s banking sector is functioning normally, the governor highlighted after several foreign banks announced reducing their business and transactions in Qatar on the backdrop of a political rift that emerged a week earlier.
Last week, Saudi Arabia, the UAE, Egypt, and Bahrain announced severing diplomatic ties with Qatar, accusing it of supporting terrorism. The countries also cut off all land, sea and air links with the Gulf state. Other countries like Libya, Mauritania and the Maldives followed suit.
Al-Thani stressed that the QCB was fully committed to free money inflows and outflows from Qatar, adding that the Gulf state had enough foreign currency reserves to meet its needs and requirements.
The central bank governor added that Qatari banks enjoy a strong international presence, with financial centres in many parts of Asia and Europe, allowing the better flexibility in dealing with and carrying out all banking transactions.
