U.K banks are not selling Qatar currency anymore

A significant number of British banks have ceased offering Qatari currency due to the Saudi-boycott of the country.

30 Jun 2017 – CNN Money

Lloyds Banking Group (LYG) and Royal Bank of Scotland (RBS) said they have stopped buying and selling riyals because a third-party supplier was no longer providing the currency.

Barclays (BCS) said it wasn’t providing the currency to individual customers, but it still had riyals available for corporate clients.

The supermarket giant Tesco — which has currency exchange operations — also said it had stopped dealing in the currency when its supplier stopped offering the money.

Saudi Arabia, the United Arab Emirates, Egypt and Bahrain cut ties with Qatar on June 5, accusing the Gulf state of supporting terrorism and destabilizing the region. Qatar has rejected the accusations, calling them “unjustified” and “baseless.”

The boycott has isolated Qatar in key ways: The Middle East’s biggest airlines then suspended flights to the country, for example.

Lloyds Banking Group (LYG) and Royal Bank of Scotland (RBS) said they have stopped buying and selling riyals because a third-party supplier was no longer providing the currency.

Barclays (BCS) said it wasn’t providing the currency to individual customers, but it still had riyals available for corporate clients. The supermarket giant Tesco — which has currency exchange operations — also said it had stopped dealing in the currency when its supplier stopped offering the money.

Saudi Arabia, the United Arab Emirates, Egypt and Bahrain cut ties with Qatar on June 5, accusing the Gulf state of supporting terrorism and destabilizing the region. Qatar has rejected the accusations, calling them “unjustified” and “baseless.” The boycott has isolated Qatar in key ways: The Middle East’s biggest airlines then suspended flights to the country, for example.

 

U.K banks are not selling Qatar currency anymore

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