Qatar Central Bank initiates legal investigation into currency manipulation

The Governor of the Central Bank of Qatar, H.E Sheikh Abdulla Bin Saoud Al-Thani, announced the commencement of a legal investigation into attempts to harm the Qatari Economy through the manipulation of the currency, securities and derivatives markets.

H.E. Sheikh Abdulla said: ‘’We know blockading countries and their agents are attempting to manipulate and undermine our currency, securities and derivatives, as part of a coordinated strategy to damage Qatar’s economy. We will not stand by while our country is attacked in this manner.’’

The Central Bank has engaged the law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP to lead an investigation into economic manipulation. A number of financial institutions and individuals have been asked to preserve documents in advance of legal proceedings.

‘’Make no mistake – where we find attempts to manipulate the Qatari Riyal or Qatar’s financial markets, we will take every step to identify and hold accountable anyone engaging in, or attempting to engage, in this illegal behaviour.

Until the illegal blockade is lifted, the Qatar Central Bank will work to ensure our financial sector and economy remains robust and stable despite the illegal actions of the blockaders.’’