Qatar's finance minister arrested - Charges of embezzlement and abuse of power

Qatar's Finance Minister Ali Sharif al-Emadi has been arrested and charged with abuse of power and embezzlement.

The Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, "dismissed Ali Sharif al-Emadi from his post as Minister of Finance and instructed Ali Bin Ahmed al-Quari, Minister of Trade and Industry, to assume the post of Minister. "Finance", the official news agency QNA reported on Thursday night, referring to a decree of the emir.

Hours earlier, state media reported, as reported by APE-MPE, that "the Attorney General has ordered the arrest of Finance Minister Ali Sharif al-Emadi (for) to be investigated on charges relating to public sector crimes, charges of embezzlement and abuse of power ". The QNA said an investigation had been launched but did not provide further details.

Although high-ranking officials have already been arrested for corruption in Qatar, official sources said al-Emadi was the highest-ranking official to face such charges during Sheikh Tamim's dynasty.

Al-Emadi took over the finance ministry in 2013. No details have been released at this stage about his duties as chairman of the board of Qatar Airways and chairman of the board of Qatar National Bank (QNB), the largest lender bank in the Middle East and Africa.

He also serves on the board of the powerful $ 300 billion Qatar Investment Authority (QIA).

Foreign Minister and QIA chairman Sheikh Mohammed bin Abdulrahman al-Thani said the investigation was related to Emandi's ability as finance minister and not to his positions in either the state coffers or the bank.

"There are no accusations related to his roles in any other body. "We are confident that our companies and institutions have the highest levels of corporate governance and we conduct regular reviews and audits for the management of our companies," said Sheikh Mohammed.

A Qatari-based diplomat told AFP that al-Emadi's arrest was "unexpected". "It is always good to see governments respect their laws and crack down on corruption and abuse of power," he said.

"It's important, it shows that Qatar is taking corruption seriously - if it turns out to be so - and it is helping to shape the image of respect for the rule of law," said another Doha diplomat.

Ali Sharif al-Emadi managed his country's economy as it suffered a major blow after the complete economic blockade imposed on Qatar by Saudi Arabia and three of its allies: the United Arab Emirates, Bahrain and Egypt.

Accusing Doha of backing Islamist groups branded "terrorist" by the Gulf states and of having very close ties with Iran, a regional rival to the Kingdom of Saudi Arabia, the four countries severed ties with the small emirate in June. 2017 imposing exclusion. This dispute lasted more than three years before these countries signed reconciliation agreements in January.

The former finance minister has been praised for avoiding a devaluation of the local currency in the face of strong external pressure, liquidating almost a quarter of Qatar's financial reserves to deal with the storm. He also made huge expenditures for the organization of the FIFA World Cup, which Qatar is going to host in 2022.

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