Ramallah – National house
Qatar has filed lawsuits against three banks in Saudi Arabia, the United Arab Emirates and Luxembourg, and accuses it of manipulating the national currency to harm its economy after the Gulf crisis began in 2017.
In a statement from Monday, the country's liaison office confirmed that a lawsuit had been filed in London against the Luxembourg-based Haveland Bank, as well as two New York cases against Abu Dhabi First Bank and Samba Saudi Financial Group, Russia Today reported.
The statement said that Qatar Central Bank began an investigation at the end of 2017 into "possible exchange rate manipulation … after confirming that banks want to launch a campaign against the Qatari riyal by trading with foreign markets at weak levels to create an image that the economy of Qatar is collapsing. "
The statement says that Haveland Bank is responsible for weakening the Qatari currency by offering "fraudulent prices" on New York currency platforms with the aim of disrupting the indices and markets with a large presence of Qatari assets and Qatari investors.
Saudi Arabia, the United Arab Emirates, Bahrain and Egypt broke off diplomatic relations with Qatar in early June 2017 and began to boycott them economically. They accused Doha of supporting terrorism and interfering with the affairs of other countries.