Qatar to convert $2bn Egypt cen bank deposit into bonds- report

Egypt prepared to repay bond within days

Qatar agreed on Monday to convert a $2 billion deposit with Egypt's central bank into bonds, Youm 7 newspaper quoted central bank governor Hisham Ramez as saying.

The conversion was thrown into doubt last week when a central bank official said that talks were underway. The official added that Egypt was prepared to repay within days $2 billion that Qatar deposited with Egypt's central bank in May if talks to convert the funds into bonds did not succeed.

The central bank governor was not immediately available to comment on the newspaper report.

Related:
Topics
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

NOTE: Comments posted on arabianbusiness.com may be printed in the magazine Arabian Business

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Saudi Arabia's new heir leads revolution of powerful millennials

Saudi Arabia's new heir leads revolution of powerful millennials

Why the youngest crown prince in living memory represents a broader...

Three things to watch as Saudi Arabia names new heir to throne

Three things to watch as Saudi Arabia names new heir to throne

Yemen, the Saudi economy and the Qatar-Gulf crisis will be high...

How Mohammed bin Salman rose to become Saudi Arabia's most influential figure

How Mohammed bin Salman rose to become Saudi Arabia's most influential figure

Profile: New heir to Saudi throne holds power beyond his years...

Most Discussed
sponsoredTracking