The Qatar Financial Centre Authority is set to announce an asset management transaction with British bank Barclays, sources familiar with the matter said on Monday.

The deal is likely to be unveiled at a news conference called later in the day by the QFC Authority where the head of Barclays' regional business will also be present.

The Qatar Financial Centre provides a platform for financial services, focusing on reinsurance and asset management, and has been positioned as the gas-rich Gulf state's answer to glitzier Dubai's financial centre.-Reuters