Cairo - Mubasher: The Central Bank of Egypt (CBE) said in an official statement on Monday that Qatar National Bank (QNB) - Egypt is an independent firm that is licensed to operate in the country’s banking sector.

The bank has a strong fiscal position and it is obligated by all of the central bank’s rules and regulations as it offers it services to the client without exceptions.

QNB’s mother group owns 97.125% of its unit in Egypt, which is under the supervision of the CBE.

Earlier, the CBE governor Tarek Amer told Mubasher that he did not issue any instructions regarding a halt in dealing in Qatari riyals.

On the other hand, two banking sources said that the central bank issued verbal instructions to stop dealing in Qatari riyals.

On Monday, Saudi Arabia, Egypt, Bahrain, and the UAE simultaneously cut ties with Qatar.