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6 UK banks stop dealing in QAR

6 UK banks stop dealing in QAR
Dealing in QAR was affected in Barclays and Royal Bank of Scotland

Mubasher: On Friday, 6 UK banks decided to stop dealing in QAR, that, as the steep decrease in the Qatari currency continue and with the political rift between Doha and Arab countries still in place.

Lloyds banking group, which is in charge of Halifax and Bank of Scotland’s operations, announced that the third party source who uses foreign currencies in providing services stopped dealing in QAR.

Dealing in QAR was affected in Barclays and Royal Bank of Scotland for the same reasons, reported the “Financial Times”.

“Tesco Bank” no longer allows its customers to buy or sell the QAR in any of its branches, said the spokesperson of the retailing operations there.

Qatar Central Bank, however, told “Reuters” that news speaking of halting dealings in its local currency have no basis.

This, as 4 Arab countries severed their diplomatic ties with Qatar.