Sport Horse Racing

Saturday 17 November 2018

QIPCO letter to Sunday Independent

David Redvers

Letter to the Sunday Independent from David Redvers, Racing and Bloodstock Manager, Qatar Racing

In her column (Sunday Independent, October 12) entitled 'Not everything is as awesome as we like to think', Aisling Crowe sought to make links between the funding of terrorist groups and a private, family-run investment business called QIPCO Holding.

Despite the fact that the article contained factual inaccuracies, and the extreme sensitivity of the subject in question and the subsequent ramifications for the good reputation of QIPCO Holding and its subsidiaries, not a shred of evidence was proffered to validate the making of such a link.

While the article correctly identifies Qatar Racing as being part of QIPCO, it goes on to state that Qatar Racing was responsible for sponsoring the Prix de l'Arc de Triomphe and supporting races in Paris. This is inaccurate. The race meeting is sponsored by Qatar, the state.

In the article, Aisling Crowe states: "The Qataris need to be asked some hard questions. And they must provide convincing explanations." One assumes from the phrasing of such a statement that she is referring to the state of Qatar, rather than any Qatari nationals associated with QIPCO.

In terms of QIPCO Holding, a company that is based in Qatar, the pertinent points to bear in mind are as follows:

• QIPCO Holding is a private, independent investment company, owned by six brothers, the eldest of which, Sheikh Hamad bin Abdullah Al Thani, is Chief Executive.

• The business has no involvement in either the funding or the policies of the state of Qatar.

• While the brothers are cousins of the Emir, none of them hold any public office.

• QIPCO Holding, along with Sheikh Hamad, Sheikh Fahad and their brothers, had no part whatsoever in the successful bid to stage the 2022 FIFA World Cup. However, this did not prevent the writer from associating QIPCO with the controversies that have afflicted both the bid and subsequent construction work.

• None of the individuals currently identified by either US or UK intelligence services as being suspected of assisting in the funding of terrorist groups have any link whatsoever with QIPCO.

Sunday Indo Sport

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