Qatar finance minister arrested on corruption charges

Qatar authorities have arrested finance minister Ali Sherif Al-Emadi on charges of embezzlement and financial fraud.

Reuters reported citing state news agency QNA.

Qatar prosecutors said al-Emadi was being questioned over allegations of embezzlement and financial fraud with government contracts, and abuse of power.

The investigation is reportedly related to Al-Emadi’s government position as finance minister.

Sheikh Tamim bin Hamad Al Thani, Emir of Qatar, relieved Al-Emadi of his duties, which would now be handled by the trade and industry minister, Ali bin Ahmed Al-Kuwari.

Al-Emadi has been Qatar’s finance minister since 2013. He sits on the board of Qatar’s $300 billion sovereign wealth fund, the Qatar Investment Authority (QIA), and is chairman of Qatar National Bank (QNB).

Last year, British financial magazine The Banker gave Al-Emadi its «Finance Minister of the Year» award for the Middle East.