26 May 2021; MEMO: Qatar National Bank [QNB] announced yesterday that it has sacked the country's former Finance Minister Ali Shareef Al-Emadi from its board of directors following his arrest earlier this month over fraud allegations, Reuters reported.
"Qatar National Bank announced that the Qatar Investment Authority [QIA] has decided to withdraw the board membership from Mr. Ali Shareef Al-Emadi as a representative of QIA on the Board of Directors of Qatar National Bank," the lender said in a bourse filing, as quoted by Reuters.
Last March, Qatar ordered the arrest of Al-Emadi as part of an investigation into alleged misuse of public funds and abuse of power, and relieved him of his ministerial responsibilities.
Al-Emadi has served as finance minister since 2013.
