HomeBusinessLuxembourg bank Banque Havilland warned by watchdog over Qatar advice

Luxembourg bank Banque Havilland warned by watchdog over Qatar advice


Luxembourg bank which counts Prince Andrew as client warned by watchdog over Qatar advice


Warning: Banque Havilland’s headquarters in Luxembourg

A Luxembourg bank which counts Prince Andrew as a client has been warned by the City watchdog.

Banque Havilland, controlled by Tory party donor David Rowland, gave ‘improper advice’ in a presentation to potential clients ‘which could be taken to harm the economy of Qatar’, the Financial Conduct Authority (FCA) claimed.

Qatar sued the bank in 2019, saying it led a financial attack designed to destabilise it when it was being blockaded by neighbours. 

Last month, Qatar said the case had been settled. The FCA said: ‘Banque Havilland exposed itself to the risk it might be used to further financial crime.’

In 2017, Rowland paid off a £1.5million loan to Prince Andrew, who then contacted the office of the Prince of Monaco on behalf of Rowland, asking for advice for his friend on how to set up a bank there. 

The bank said it was challenging the FCA’s warning.

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