Click on UAE banks … and why they are participating in the Qatar siege

Click on UAE banks … and why they are participating in the Qatar siege

The UAE economy is paying for a siege on Qatar (Getty)
Click on UAE banks ... and why they are participating in the Qatar siege

November 23

The conflict between Qatar and UAE has been shown in UAE banks with Qatari shareholders, which impact on the business and its business. raise questions about the future.

Some of the banks and companies have been warned by the UAE government to deal with Qatari companies since Saudi Arabia, Saudi Arab Emirates, Bahrain and Egypt have blocked Qatar in June 2017, a senior ambassador of UAE told Reuters.

As a result, UAE companies and banks have declined to trade with the United Arab Bank, the International Commercial Bank and France Al Khaliji, said the stores.

Qataris, formerly the leading investors in the UAE property acquisition department and other sectors, are the largest shareholders in the United Arab Bank, which is 40% owned by Commercial Bank of Qatar and Commercial International Bank ( QIB) 40%.

Out of the 15 registered banks in the UAE, UAB and CIB have only dropped in assets, consumer inventories and loans from the start of the crisis.

Redmond Ramsdell of Fitch Ratings said: "The two United Arab Emirates and the International Commercial Bank have benefited from the time to participate in their owners' Qatari banks, and -This interest has been demolished.

Al Khaliji is France, who works in France and in the UAE and is wholly owned by Calc Gulf, which shows that Qatari customers are in a position; continues to grow and is not balanced.

The latest financial statements for the full year of Bankbank France, a bank not registered, showed that its assets, customer investments, loans and advances fell between 2016 and 2017.

UAB and CIB have been preserving the balance sheet of serious debts since the start of the regional conflict, following the increase in loans that did not exist; Achievement, largely pledged by small and medium sized companies affected by the economic situation.

"CIB has cut its careless care care into sales banking activities," said an International Commercial Bank spokesperson, saying that the bank has put down the deposits as it did, 39; need to be funded.

UAB, Bank of Cuba or the Central Bank of UAE did not object to requests for comment.

Investments deposited

The UAE bank officer, who spoke of an anonymous state, said that at least one member of UAE had a Qatari shareholder withdrawing from some of the government-related investments.

However, stores close to the banks said that they had not seen any important drawings from government-related treasures, added that money had never escaped good in any situation.

Two sources said that UAB and CIB had expanded funding sources since the conflict began, with a concern in Abu Dhabi about dealing with them.

Although the Commercial Banking Bank and Al Khaliji Bank have tried to protect their holdings in UAE banks, among other reasons for Kazakh's emergency, the failure of the sales negotiations, including the arguing.

The Canadian Commercial Bank said in June that he finished talks with Tabarak Investment, based in the United Arab Emirates, to buy his money in the United Arab Bank, with sources near the talks saying Mubarak was unable to make money built to fill the matter.

Gulf Bank said in September that he abandoned Al Khaliji in France.

A source that knew the report said that some of the offers offered to the banks were lower than market value "to benefit from the political situation", long & was the National Bank Chata a & # 39; ruled out he had no sale in the "International Trade".

(Reuters, Arab Arab)

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