December 3, 2022

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Qatar Orders Arrest of Finance Minister Over Misuse of Funds

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Qatar’s prosecutor requested the arrest of Finance Minister Ali Sharif Al-Emadi to issue him in excess of alleged abuse of power and misuse of general public money, a point out-run information agency stated.

The country’s ruling emir mentioned he’d relieved Al-Emadi of his office environment and entrusted his obligations to the present-day Minister of Commerce and Field, Ali Al Kuwari, according to an announcement launched several hours following arrest was designed general public.

Al-Emadi was named finance minister a day after Sheikh Tamim bin Hamad Al Thani took more than leadership of the nation in June 2013, and has held the role given that. The prosecutor has introduced an investigation, Qatar News Agency explained Thursday. No more particulars had been promptly obtainable.

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The arrest was uncommon, because allegations of legal conduct by senior point out officials or members of ruling families in the Gulf are typically addressed at the rear of closed doorways. Saudi Arabian Crown Prince Mohammed bin Salman’s declared anti-corruption push in 2017, which targeted royals and businesspeople, was an exception.

Qatar’s dollar bonds held on to most of their previously gains following the news, with the yield on the securities because of 2050 down about 4 basis points to 3.4%. The country’s inventory marketplace had by now closed for the weekend.

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