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Agencies
Doha
Some international banks are serving Qatar from London and New York instead of Dubai's financial center as a regional dispute makes it harder to do business with clients in Doha, according to people familiar with the matter.
Lenders that handled clients such as the Qatar Investment Authority out of the Dubai International Financial Centre (DIFC) are shifting coverage to other global financial hubs, they said, requesting not to be identified because the matter is private.
A number of Qatari clients are also saying they would prefer to work with bankers outside of the Gulf region rather than with bankers based in the DIFC, they added.
Regional banking operations are also being impacted amid the crisis.
Qatar also has a financial hub of its own that was started by the Qatari government to foster investment in the country's financial system.
The Qatar Financial Centre is aiming to attract 1,000 firms by 2022 even amid the standoff, Chief Executive Officer Yousuf al Jaida said in June.
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31/07/2017
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