Envoy says Qatar not involved in Panamagate

[Syed1]

Qatar has distanced itself from any involvement in the Panamagate affair, saying it was an internal matter of Pakistan.

“Let me assure you categorically that my government is not involved in this matter. It is an internal issue, Qatar is not actually involved,” Qatar’s Ambassador to Pakistan Saqr bin Mubarak al Mansouri told the host of a news show on Saturday.


In a bid to provide the money trail for the Sharifs’ London properties, Prime Minister Nawaz Sharif’s counsel submitted before the Supreme Court’s five-judge bench hearing the Panamagate case two letters, apparently written by Qatar’s Emir Shiek Hamad Bin Jassim Bin Jaber al Thani.

In the first letter, the emir said the PM’s father, Mian Muhammad Sharif, had invested approximately 12 million dirhams in the Al-Thani family’s real estate business. The second letter also included transaction details and auditor’s reports of the Gulf Steel Mills in Dubai and the Azizia Steel Mills in Jeddah.

Both the letters – respectively submitted in November 2016 and January 26, 2017 – were marked ‘private and confidential’ and not to be disclosed to any party, except for the benefit of Pakistani courts.

https://tribune.com.pk/story/1317368/envoy-says-qatar-not-involved-panamagate/

 

[Syed1]

Qatar dissociating itself from the Panama case. Now who will come to save Nawaz Sharif

 

[Last Monetarist]

https://www.reuters.com/world/middle-east/qatars-finance-minister-arrested-alleged-embezzlement-statement-2021-05-06/

Qatar Finance Minister Ali Sherif al-Emadi was arrested for questioning over allegations of embezzlement, abuse of power and crimes related to the public sector, a statement carried by state news agency QNA said on Thursday.

An investigation is underway, the statement added.

Emadi has been minister of finance in the wealthy Gulf Arab state since 2013 and sits on the board of its powerful $300 billion sovereign wealth fund, the Qatar Investment Authority.

He is also chairman of the board of directors of Qatar National Bank, the largest lender in the Middle East and Africa.

"The findings and investigation are related to his government position as finance minister and not to his board member roles at other entities," a source with knowledge of the investigation said, declining to give further details.

Emadi steered Qatar's economic policies during the 2014-2015 oil price crash that prompted the tiny nation - as well as other Gulf countries - to accelerate plans to diversify the economy.

Qatar, a leading producer of liquefied natural gas, saw its economy shrink by 3.7% last year due to the coronavirus crisis and lower global energy demand.

However, the contraction was less than expected and was the smallest in the Gulf region, International Monetary Fund data showed.

Emadi was named as 2020’s best minister in the region by The Banker, an international financial magazine that organises an annual celebration of finance ministers.

Qatar, which next year will host the soccer World Cup, has invested heavily in infrastructure over the past few years ahead of the event, which means spending on major projects is set to decrease this year, the finance ministry has said.

Real gross domestic product is expected to grow 2.2% this year thanks to the rollout of vaccines, a gradual easing of coronavirus-related restrictions and an increase in oil demand and prices.