South Kesteven District Council currently invests £13m in Qatari state lender
It comes ahead of the World Cup, which gets underway on Sunday
South Kesteven District Council currently has £13 million invested in Qatar National Bank (QNB) - the state lender for the hosts of the upcoming World Cup.
The controverisal tournament gets underway in Qatar this weekend - where homosexuality is illegal and women are second class citizens.
SKDC gave us the following statement:
"These are investments that meet the criteria set out in the Council’s Treasury Management Strategy and are reported to our Governance and Audit Committee."
“The Council's policy on where to invest is reviewed on a regular basis and we strive to ensure this is with ethical countries and companies.
“The investment approach of the Council ensures optimum value for the local taxpayer, in line with best practice and professional guidance, although this will be balanced against our ethical responsibilities at the earliest opportunity.”