Businesses should cut ties with Qatar, Egyptian billionaire says

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Arab investors need to divest from Qatar: Billionaire Naguib Sawiris

Egyptian billionaire investor Naguib Sawiris on why investors should divest from Qatar.

Egyptian billionaire investor Naguib Sawiris on Friday discussed why Arab investors should pull their money out of the oil rich country of Qatar.

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“I’m not just advising them to take their money out of Qatar, I’m advising them not to deal with Qatar… All intelligence services of the world have all material showing that they [Qatar] are supporting all the terrorists and extremist groups in the Middle East, from Libya, in Syria, in Iraq and everywhere,” he told Wall Street Week host Maria Bartiromo.

Saudi Arabia, Bahrain, United Arab Emirates, Egypt and Yemen have all cut their ties with Qatar, but Sawiris explained why countries aren’t being more proactive in dealing with Qatar.

“Nobody is doing anything because they are the richest country in the world because of their oil situation,” he said.

The billionaire developer would change his stance on Qatar if they own up to their alleged dealings with terrorist organizations.

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“I want them to stop hosting terrorists in their countries... They need to come straight and say yes we did that in the past for whatever reason…They have blood on their hands. Why is Qatar the only country in the world that no single incident of terrorism happened there?,” he said.

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Catch the full interview on the FOX Business Network at 8 p.m. et.
 

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