Qatar Central Bank said on Tuesday it had launched a legal investigation into attempts by countries opposed to it to harm the Qatari economy by manipulating the currency, securities and derivatives markets.

"We know blockading countries and their agents are attempting to manipulate and undermine our currency, securities and derivatives, as part of a coordinated strategy to damage Qatar’s economy," QCB Governor HE Sheikh Abdullah bin Saud al-Thani said in a statement.

"We will not stand by while our country is attacked in this manner," he said, adding that the central bank had hired New York-based law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP to lead the investigation. He said a number of financial institutions and individuals had been asked to preserve documents in advance of legal proceedings.

 "Make no mistake - where we find attempts to manipulate the Qatari riyal or Qatar’s financial markets, we will take every step to identify and hold accountable anyone engaging in, or attempting to engage, in this illegal behaviour," Sheikh Abdullah said.

Related Story