Qatar banks overcharging - central bank

QCB recently slammed banking sector for high fees and told banks to reduce them.
Qatar banks overcharging - central bank
HIGH PRICE: Some banks are failing to adhere to Central Bank regulations on the charges they may apply to customers.
By Shane McGinley
Tue 09 Mar 2010 10:26 AM

Some banks in Qatar are still charging high fees for some products and services and are in violation of directives issued by the Qatar Central Bank (QCB), according to reports on Tuesday.

Qatari daily newspaper The Peninsula reported that the QCB recently came down on the banking sector for charging high fees and told banks to reduce them.

The central bank issued a directive relating to fees for various services and said that fees for some services were to be scrapped, such as those imposed on opening an account or issuing an ATM card.

The report said that some banks, such as Doha Bank, have implemented the QCB’s directive. However, some have not, including two famous international brand names.

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.