Anonymous sources said that the move is being taken so as to shift the bank’s regional investment banking department headquarter to Qatar’s capital Doha.

Further, after cutting about three of the banks positions in Dubai and transferring another, the bank will also move its equities business to Riyadh.

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Qatar and Suisse are developing relations as Qatar owns about 6% stake in the Zurich-based bank.

It was in November 2011 that Credit Suisse had announced its plans to expand in Qatar to provide asset-management services to local and international investors.

Commenting on the matter, the bank said: "We continue to be proactive about monitoring the size of our business relative to client opportunities and market conditions. This involves realigning resources to growth areas and adjusting capacity to meet client needs and to manage costs across our businesses."

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