UAE ordered banks to wary any accounts hold with six Doha-based banks

Vastavam web: The Dubai  largest listed property developer, Emaar Properties, rose 0.9 percent as investors continued to react positively to its plan to distribute funds from a listing of its local real estate developer to shareholders.Five of the six Doha-based banks named are listed on the stock market: Qatar National Bank, Qatar Islamic Bank , Qatar International Islamic Bank, Masraf Al Rayan and Doha Bank. Shares in all of them fell on Sunday with the largest, QNB, down 1.0 percent.Qatari banks have about 60 billion riyals ($16.5 billion) in funding in the form of customer and interbank deposits from other Gulf states, SICO Bahrain estimated, and the banks account for just over half the Qatari stock market’s value.
Shares in Barwa Real Estate were down 4.9 percent and the Qatari stock index fell 1.3 percent on Sunday morning. Last week, the Doha index shed 7.1 percent.In Abu Dhabi, the banking sector helped carry the index 0.5 percent higher. First Abu Dhabi Bank – the second largest bank in the region by assets after QNB – was 0.9 percent higher.