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Depositors took flight following focusing on losses from the banks’ portfolios of mounted-profits securities as well as very low proportion of deposits that ended up covered by a government assure.
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The first step the Qatari government took was to achieve out to Turkey. Turkey’s armed service intervened to forestall a immediate invasion. Turkey and Qatar both of those support the best of religious events such as the Muslim Brotherhood to participate peacefully in civil Modern society, and were being on the same side in opposing the 2013 coup because of the Egyptian officer corps from Egypt’s elected Muslim Brotherhood president, Mohamed Morsi. Inspite of Riyadh’s backing of tricky-line Salafi fundamentalists, which it sees as faithful on the Saudi monarchy, its Management has come to check out the Brotherhood like a populist risk to the crown, as well as the UAE feels exactly the same way.
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Step one the Qatari government took was to achieve out to Turkey, whose army intervened to forestall a direct invasion.
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