Increase of non-Qatari capital ownership in banks to attract investments

The Cabinet’s approval to increase percentage of non-Qatari capital ownership in major banks (QNB, Qatar Islamic Bank, Commercial Bank, Masraf Al Rayan) to reach 100 percent was welcomed by Qatar Stock Exchange (QSE) Chief Executive Officer Rashid bin Ali Al Mansoori, in a recent tweet. 

“We welcome the approval of the cabinet to increase the percentage of foreign ownership in four local banks to 100 percent, as this would contribute to increasing investment flows. The decision is expected to enhance the country’s economic activity and attract overseas funds in efforts to diversify the economy,” Al Mansoori tweeted. Prime Minister and Minister of Interior H E Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani chaired the Cabinet’s regular meeting last week, where it approved  to increase the percentage of non-Qatari ownership in the capital of major banks to reach 100 percent. At the Amiri Diwan meeting, the Cabinet approved increasing the percentage of non-Qatari ownership in the capital of the Qatar National Bank (QNB), Qatar Islamic Bank (Al Masraf), Commercial Bank and Masraf Al Rayan to reach 100 percent.