June 12, 2017 / 12:19 PM / 4 months ago

Qatar central bank chief says no disruption to domestic, foreign transactions

DUBAI, June 12 (Reuters) - Qatar’s banking sector is functioning normally and there are no disruptions to domestic or international transactions, central bank governor Sheikh Abdullah bin Saud al-Thani said on Monday in a statement carried by official news agency QNA.

Speaking after Saudi Arabia, the United Arab Emirates and other countries imposed sanctions on Qatar last week, causing many foreign banks to scale back business with Doha, Sheikh Abdullah said the central bank was fully committed to free money flows into and out of the country and had enough foreign currency reserves to meet all requirements.

He said Qatari banks had an extensive international presence that included key financial centers in Asia and Europe, giving them additional flexibility to carry out all banking transactions. (Reporting by Andrew Torchia; Editing by Janet Lawrence)

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