Business

Barclays Bank charged with fraud over controversial deal with Qatar

Barclays Bank has been charged with fraud in connection to a loan provided to the State of Qatar in 2008, Daily Mail UK reports.

The charge is related to the issues that arose from Barclay’s capital-raising that year.

The Serious Fraud Office (SFO) last year charged Barclays, the parent company with one offence of ‘unlawful financial assistance’ in regard to a $3billion (£2.2billion) loan provided to the State of Qatar in November 2008, but had not at the time made a decision of whether to charge the Barclays Bank unit as well.

The Bank has now been charged with the same offence.

The company in a statement however says “Barclays does not expect there to be an impact on its ability to serve its customers and clients as a consequence of the charge having been brought” the company said in a statement.

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