2 Min Read
DUBAI (Reuters) - Qatar's central bank has asked commercial banks to provide it with detailed, frequent information on their foreign exchange trading, deposit withdrawals and money transfers, banking sources told Reuters on Thursday.
They were speaking after the Qatari riyal fell to an 11-year low against the U.S. dollar in the spot market on Wednesday amid signs that some foreign portfolio investment funds were pulling money out of Qatar, because of its diplomatic rift with other Gulf states.
The sources said banks were asked to provide information on their foreign exchange trading every day, a daily statement of withdrawals and transfers from deposits worth at least 10 million Saudi riyals (2.08 million pounds), and daily information on cash withdrawals and deposits, the sources said.
Previously, banks were generally required to provide such information monthly, they said.
The Qatari central bank also asked banks to supply on a weekly basis a breakdown of their customer deposits by maturity and type from Gulf Cooperation Council countries, Egypt and other countries, the sources said. There was no immediate comment from the central bank.
Reporting by Hadeel Al Sayegh and Tom Arnold; Writing by Andrew Torchia