© Reuters/Phil NobleA logo of Barclays bank is seen outside a branch in Altrincham, northern England April 26, 2012.
British authorities are looking into an allegation that Barclays (BARC.L) loaned Qatar money to invest in the bank as part of its rescue fundraising at the height of the 2008 financial crisis, the Financial Times reported.
Qatar Holding is not accused of any wrongdoing, the FT said.
The Financial Services Authority (FSA) and Serious Fraud Office (SFO) have been looking into Barclays' emergency fundraising since July.
Qatar Holding invested 5.3 billion pounds ($8.4 billion) in Barclays in June and October 2008, helping it avoid being bailed out by the government, unlike rivals Lloyds Banking Group (LLOY.L) and Royal Bank of Scotland (RBS.L).
Allegations over a loan to the Qataris is a new thread of the investigation, the FT said, citing two sources familiar with the situation.
A Barclays spokeswoman said: "Both the FSA and SFO investigations are on-going and, as such, we are unable to comment further."
The FSA and SFO both declined to comment.
New Barclays chief executive Antony Jenkins has been trying to restore the bank's reputation after a string of scandals, including a $450 million fine in June for rigging Libor interest rates that prompted the resignations of previous CEO Bob Diamond and chairman Marcus Agius.
The deal with Qatar was controversial from the outset. Shareholders were angry Qatar was offered more attractive terms to invest than existing investors, and a sale of warrants in November left Qatar sitting on a gain of 1.7 billion pounds from its investment, according to Reuters estimates.
Comment: Excerpt fro the FT : "UK authorities investigations into whether Barclays gave a loan to Qatar to fund the bank's cash call in 2008 have highlighted its desperate and ultimately successful attempt to avoid a state bailout at the height of the financial crisis. The Financial Times this week revealed that the UK's Financial Services Authority and the Serious Fraud Office are looking into such allegations, adding yet another blow to Barclays attempts to repair its tarnished image ... Qatar Holding was one of two Qatari investors that participated in Barclays' two cash calls in 2008. The other one was Challenger, an investment vehicle of Sheikh Hamad bin Jassim bin Jabr al-Thani, the prime minister of Qatar, and his family."
Conclusion: When you are a bank, you can do a bit of trafficking with your account to avoid nationalisation.