FAB Rejects Qatar's Financial Regulatory Authority Allegations
ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 25th Aug, 2019) Abu Dhabi's First Abu Dhabi Bank, FAB, today rejected allegations by the Qatar Financial Centre Regulatory Authority, QFCRA, that its branch in the Qatar Financial Centre had failed to provide appropriate financial disclosures.
It is not coincidental that the actions of the QFCRA take place at the time that the United Arab Emirates, along with several other countries, have ended their diplomatic relations with the State of Qatar.
Although the QFCRA’s allegations are false, FAB made good faith efforts to engage with the QFCRA to resolve the matter, with FAB’s QFC branch providing all relevant and responsive information that it was required to disclose pursuant to QFC law.
Any allegations that FAB’s QFC branch failed to provide appropriate disclosures are false.