Qatar's Former Finance Minister to Face Criminal Trial Over Embezzlement Allegations
Date
3/19/2023 9:40:51 AM
(MENAFN) Qatar's former finance minister, Ali Sherif al-Emadi, will face criminal trial over allegations of bribery, abuse of position and power, damage to public funds and money laundering, according to Qatar News Agency. The charges also extend to an unspecified number of others involved in the case. Emadi was arrested in May 2021 and stripped of his ministerial duties. He was subsequently removed from the boards of the Qatar Investment Agency and Qatar National Bank, where he had previously served as CEO.
Emadi served as finance Minister in the Gulf Arab state from 2013 until his arrest. He was also a board member of the Qatar Investment Authority, the country's powerful $300 billion sovereign wealth fund, which owns 50% of Qatar National Bank. The investigation into Emadi is related to his time as finance minister, according to Qatar's Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al-Thani.
Emadi has not publicly commented on the case, and Reuters has been unable to contact him. The trial serves as a reminder of the importance of accountability and transparency in financial governance, particularly in sovereign wealth funds and other government entities. The outcome of the trial will be closely watched by the international community, as it could have implications for Qatar's reputation as a destination for foreign investment.
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