News Agency, News, about the news of the case of the use of Sherif Al-Emadi regarding the use of public fundAl-Emadi was appointed Minister of Finance after the day Sheikh Tamim bin Hamad Al Thani took over the leadership of the country in June 2013, and has held the position since then. The Qatar News Agency said on Thursday that the public prosecutor had opened an investigation.
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Qatari dollar bonds held most of their previous gains after the news, with the 2050 securities maturing dropping nearly 4 basis points to 3.4%. The country's stock market was already closed for the weekend
Al-Emadi has been a staunch supporter of the financial system in Qatar, as he helped transform Qatar National Bank from a local company into the largest lending bank in the region as CEO of the bank from 2007 to 2013. He continues to hold the position of Chairman of the Bank’s Board of Directors and is also Chairman of the Executive Board For Qatar Airways, and on the Board of Directors of the Qatar Investment Authority, the state's sovereign wealth fund.
Recently, amid speculation that Al-Emadi had lost his popularity, he was replaced as head of the Qatar Financial Center - a platform through which most foreign financial firms operating in the country and among agencies that encourage foreign investment are registered.
Al-Emadi is seen as a budget-minded financial manager, reluctant to raise excess debt even though Qatari bond yields are among the lowest in developing economies.
At the same time, he oversaw massive spending in preparation for the 2022 FIFA World Cup Qatar. Bloomberg Intelligence estimates that the country will allocate $ 300 billion in infrastructure projects before the soccer tournament
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