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Saturday, July 1, 2017

Noose tightens on Qatar over terror!

  • Offshore trade of the riyal has become increasingly volatile as a result, raising risks for banks.
global campaign to combat the Qatar government's funding of terrorism was launched in Vienna on Friday as several British banks said they had stopped dealing in Qatari riyals.

The move by citizens and activists from various countries will also see the filing of compensation claims of 'a large number of casualties' caused by this financing.

Saudi Arabia, the UAE, Bahrain and Egypt severed diplomatic and travel links with Qatar on June 5, accusing it of supporting terrorism and courting regional foe Iran, in allegations that have ignited a regional crisis between the US allies.Offshore trade of the riyal has become increasingly volatile as a result, raising risks for banks.

A spokeswoman for Britain's Lloyds Banking Group said a "third-party supplier" which handles its foreign exchange service had ceased trading in Qatar's riyal as of June 21.

In a statement announcing the launch of the 'Global Campaign Against the Qatari Financing of Terrorism' during a peaceful demonstration outside the Qatari embassy in Vienna, activists said that the campaign would combat Doha's funding of global terrorism.

"Qatar's government provides material and logistical support to terrorist organisations as well as hosting their leaders in its territory. In addition, it is adopting radical and hateful rhetoric of extremism that goes against the culture of pluralism and tolerance towards various ethnic and religious groups; violating the Universal Declaration of Human Rights and international treaties and conventions," the statement said.

On Saturday, the campaign, in cooperation with international legal advisory offices, will start filing claims for compensation against Qatar for the financing of global terrorism as it is the cause of a large number of casualties.

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