DUBAI The United Arab Emirates central bank is preparing guidelines for UAE banks on Qatar-related transactions after holding a meeting on Tuesday to discuss its response to the regional diplomatic rift, sources familiar with the matter told Reuters.
The regulator had earlier asked banks under its supervision to report their exposure to Qatari banks after the governments of the UAE, Saudi Arabia, Bahrain and Egypt cut diplomatic ties and transport links with Doha on Monday, accusing Qatar of backing terrorism.
The sources said the guidelines would restrict new business with Qatari institutions and address the issue of unwinding exposure to Qatar. One source said the guidelines were expected to be communicated to banks late on Tuesday or on Wednesday.
The central bank did not respond to requests for comment.
(Reporting by Hadeel Al Sayegh and Tom Arnold; Editing by Andrew Torchia)