Egypt central bank bans use of Qatari riyal in response to Doha rift

Egypt’s central bank has issued a grim decree early Monday that bans the use of the Qatari riyal in commercial transactions, banking sources with knowledge told Amwal Al Ghad.

The move came after Saudi Arabia, Egypt, the United Arab Emirates, Bahrain, and three more Arab states have severed their ties with Qatar. The six nations accused Qatar of supporting terrorism and opening up the worst rift in years among some of the most powerful states in the Arab world.

Gulf Arab states and Egypt have already long resented Qatar’s support for Islamists, especially the Muslim Brotherhood which they regard as a dangerous political enemy.