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Qatar: Reading council deposited £95m in World Cup hosts' bank
Between November 2021 and July 2022, Reading Borough Council invested in Qatar National Bank, a state lender in a country where same-sex activity can lead to seven-year jail sentences and even the death penalty.
The council has discontinued investments since its last £5m transaction ahead of reviewing the list of approved banks in February 2023...
Concerns were first raised on July 19, when Cllr Josh Williams questioned a £15m deposit made in QNB despite its “lamentable human rights record” during an Audit and Governance Committee meeting...
"Reading Pride are disappointed to read of the apparent depositing of funds into accounts of Qatar National Bank (QNB) by Reading Borough Council amongst other local authorities...“Reading Pride have been assured by Reading Borough Council funds have been moved away from QNB and the Treasure Management Strategy is being updated to avoid such circumstances reoccurring."Reading Pride