Doha – Mubasher: The Qatar Central Bank (QCB) has asked commercial banks for detailed, daily reports about foreign exchange trading and other items, Reuters reported on Thursday, citing banking sources.
The QCB’s demand for information also entailed a daily statement on transfers and withdrawals from deposits starting SAR 10 million ($2.7 million), in addition to daily information about cash withdrawals and deposits, the sources told Reuters.
Previously, the QCB had demanded such reports on a monthly basis.
The sources revealed that the QCB had also asked commercial banks to provide a “breakdown” if their deposits, by maturity and type, from customers from the GCC countries, Egypt, and other countries on a weekly basis.
On Wednesday, the USD-QAR pair dropped to an eleven-year low of QAR 3.647 on the spot market on the back of the diplomatic rift, which occurred on Monday after Saudi Arabia, Egypt, and the UAE announced cutting diplomatic ties with Qatar.
Several countries followed suit, while others suspended trading on the Qatari currency in the course of the following few days.
