We can withstand any financial shock, not worried about boycott: Qatar central bank

Qatar has $340 billion in reserves including holdings of its sovereign wealth fund that could help the Gulf country to weather the isolation by its powerful Arab neighbours.

Doha, July 10: The governor of Qatar's central bank believes the country's economy will be able to fully withstand any financial shocks brought on by the dispute in the Gulf, and welcomed outsiders to investigate its accounts and money flows.

"We're not guilty," Abdullah Saud Al-Thani told CNBC in an exclusive interview. The central banker referred to the accusations placed by other Arab nations that accuse Qatar of supporting terrorism. "We have no challenges, we welcome those to review all our books, they are open," he added.

Al-Thani said the central bank has $40 billion in reserves plus gold, while the Qatar Investment Authority has $300 billion in reserves that it could liquidate.

Qatar still finds itself excluded and singled out by its near neighbors. Saudi Arabia, the United Arab Emirates, Egypt, and Bahrain are leading a boycott against Qatar, and since last month have severed diplomatic and transport ties.

Qatari stock markets have sunk lower on the boycott and the country's currency-the riyal-has seen wild fluctuations, while credit ratings agencies have warned on a period of uncertainty for the nation.

Doha denies charges that it supports terrorism, and denies that it has allied itself with regional foe Iran. Qatar is now seeking compensation for damages from the blockade.

(with agency input)