Tamim’s subservience to Erdogan triggered widespread resentment by Qataris.They concluded that Erodgan now controls Qatar’s banking system in exchange for protecting Tamim.
Turkish ambassador to Qatar exposed Erdogan’s plot to control Qatari banks, Fikrat Ozer reiterated Ankara’s wish to open Turkish banks in Qatar, and "Waqf” bank, Turkey’s biggest banks, seeks to penetrate the Qatari market.
Turkey is preparing to develop other partnerships in public and private sectors.
Turkey’s statements ignited anger among the ruling family, they emphasized their impatience
with Tamim’s failed policies and stressed Tamim’s policies turned Doha into a prey of Turkey.
Influential circles in the financial sector complained about Tamim’s imprudent decisions, and emphasized the need for saving Qatari banks from Ankara’s malicious plots.
Leading opponent Abdullah bin Fahd Al Thani criticized Tamim’s decisions underlining Tamim’s policies helped Erdogan to control Qatar.
Turkey’s depleting Qatar’s resources led to a rise in the external debt to 700 billion riyal.
Turkey’s close regional ally has already invested almost one-third of the money, ambassador Fikret Özer told reporters in Doha on Wednesday, the newspaper said.
Qatari leader Sheikh Tamim bin Hamad Al Thani announced the financial support and investment package after a hastily-arranged meeting President Recep Tayyip Erdoğan in Ankara in August. The visit came as a political crisis with the United States and concern about Turkey’s overheating economy pushed the Turkish lira to a record low of 7.22 per dollar.
The remainder of the $15 billion will come in the form of investments, Özer said. The Qatar Investment Authority (QIA), Qatari Diar, Katara Hospitality and several other firms are already in the process of putting capital into various industries, including real estate and hospitality, he said.
Qatar and Turkey, which have formed a political and economic alliance in the region, carried out a currency swap of $3 billion last August as part of a financial package to help Turkey avoid a full-blown financial crisis. Analysts have since expressed doubts about whether the rest of the pledged amount would be divested by the Qatari government or the country’s firms.
Turkey is seeking to draw in foreign capital to help it overcome an economic downturn unseen since a financial crisis in 2001. Erdoğan’s government has repeatedly said that it will not sign a new International Monetary Fund loan accord to bolster the central bank’s depleted foreign currency reserves and to deal with a mounting pile of corporate debt that is weighing heavily on banks.
