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Thursday, September 16, 2021

Qatar’s amir replaces finance minister amid ongoing corruption probe

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The former finance minister was arrested over corrupt charges on Thursday.

Qatar’s Amir Sheikh Tamim bin Hamad Al Thani replaced finance minister Ali Shareef El-Emadi with Ali bin Ahmed Al-Kuwari, the current Minister of Trade and Industry, state news agency reported on Thursday.

The move came after Qatar News Agency confirmed a warrant for arrest was issued for El-Emadi hours earlier over charges including abuse of public funds and power.

Al Emadi is set to be questioned by prosecutors as part of an investigation into embezzlement of public funds and misuse of authority.

Read also: BREAKING: Arrest warrant issued for Qatar finance minister over corruption charges

Al-Emadi assumed his position as the finance minister a day after Sheikh Tamim bin Hamad Al Thani became the leader of Qatar in June 2013.

As chief executive of Qatar National Bank from 2007 to 2013, Al-Emadi worked to transform the institute into the region’s biggest lender.

He currently serves as chairman of the bank’s board as well as the president of the executive board of Qatar Airways. He also sits on the board of Qatar investment Authority.

However, Qatari Foreign Minister Sheikh Mohammed bin Abdulrahman Al-Thani said the probe is related to Ali Shareef Al-Emadi’s position as finance minister and “not his board member roles at other entities”, Reuters reported.

“There are no allegations related to his roles in any other entities. We are confident that our companies and entities are running the highest levels of corporate governance and we are conducting regular reviews and audits for the governance of our companies,” Sheikh Mohammed said.

Corruption watchdog Transparency International ranks Qatar among the least corrupt in the region in 2020, with a score of 63 out of 100.


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