Qatar: Qatari Riyal (QAR) will cease to be an eligible settlement currency – update
Note: This announcement, originally published on 28 August 2020, has been update as QAR will also cease to be an eligible settlement currency over the Bridge. The change has been highlighted.
Clearstream Banking1 would like to inform customers that effective
28 September 2020
it will close its Qatari Riyal (QAR) account with the Qatar National Bank (QNB).
Impact on customers
Customers should note that QAR will cease to be an eligible settlement currency in Clearstream Banking and over the Bridge. Customers should transfer their QAR balances to another bank or execute a foreign exchange to convert their QAR balances before 28 September 2020.
The cash correspondent details relating to QAR will be removed from the relevant documentation on the effective date.
For the current cash correspondent details relating to all eligible currencies, please consult the Cash Timing Matrix.
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.