Barclays Hit By Fresh Charges In Qatar Capital-Raising Case

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The FTSE 100 lender announced in a statement that both Barclays Plc and Barclays Bank Plc meant to defend the respective charges brought against them, and that the company did not anticipate an impact on its ability to serve customers as a result of the charges.

Barclays PLC, Varley and Jenkins have also been charged with providing unlawful assistance over allegations linked to an October 2008 fundraising.

Monday's additional charge was brought against Barclays' operating company, which holds the lender's banking license.

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The move comes after the SFO charged Barclays' holding company over the fundraising last June.

"Barclays does not expect there to be an impact on its ability to serve its customers and clients as a effect of the charge having been brought", the company said in a statement. The deal included an arrangement for £2.3bn to be loaned back to Qatar Holdings.

Money was pumped in by State-backed Qatari investors, as well as Abu Dhabi royals and investors from Singapore.

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The charges centre on investments secured from Qatari investors in 2008 as the banking sector went into meltdown.

Barclays is the U.K.'s second-biggest bank by assets: the potential for chaos and disruption for its customers and the wider financial system caused by taking its license is significant, to say the least.

It will be the first time that a British bank has faced a criminal trial over its conduct during the financial crisis. A guilty verdict against the bank could see it lose this essential licence.

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