Jun 05 2017, 7:24 PMJun 13 2017, 4:16 PMJune 05 2017, 7:24 PMJune 13 2017, 4:16 PM
A decision by Qatar 's neighbouring governments to cut economic and diplomatic ties is a blow for Qatari banks , which are already stretched by financing the $ 200bn trillion World Cup , declining cash reserves and higher interest rates . The decision puts foreign deposits at risk of withdrawal – particularly those from the six - nation financial Cooperation Council . Although Qatar has major holdings in Barclays , Credit Suisse and Deutsche Bank , its banking system relies heavily on foreign cash . Non - resident deposits made up 24 % of deposits in Qatar 's 18 lenders in April . “ If it lasts more than a few days we are likely to see rapid increases in risk pricing , " warned Emad Mostaque of Capricorn bank Managers .