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Dubai-based Oman Insurance says blocked from Qatar

Dubai-based Oman Insurance says blocked from Qatar

Oman Insurance said Qatar’s central bank has rejected its application due to the GCC dispute

Dubai-headquartered Oman Insurance Co said on Tuesday Qatar’s central bank has rejected its application to open a branch in the Gulf Arab state, amid a deep dispute between Qatar and the United Arab Emirates.

Oman Insurance is prohibited from selling or issuing insurance in Qatar because of the decision, it said in a bourse statement.

The UAE, Saudi Arabia, Egypt, and Bahrain cut ties with Qatar in June 2017, accusing Doha of supporting terrorism. Qatar has denied the accusations.

The Qatar Central Bank could not be immediately reached for comment.

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