Britain's financial regulator has fined Barclays 40 million pounds ($50.9 million) for its failure to disclose payments made to Qatari entities in 2008, after the bank on Monday said it had dropped its appeal over the case.

Barclays Plc has been fined £40 million ($50.3 million) by British regulators over failures to disclose details of its rescue by Qatar during the 2008 financial crisis.

Britain's financial regulator has fined Barclays £40m in total for its failure to disclose certain arrangements with Qatari entities in 2008.

Britain's financial regulator on Monday fined Barclays 40 million pounds ($50.9 million) in total for its failure to disclose certain arrangements with Qatari entities in 2008.

Barclays has been fined £40million over secretive payments to QatarI institutions during the 2008 global financial crisis.