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FinancialNews
14-03-18
Qatar's National Bank to double foreign ownership limit
(MENAFN) Qatar's National Bank declared its plan to make its foreign ownership limit reach 49 percent, doubling it.
The decision was explained by sources to be in purpose of driving funds, since Qatar has been boycotted for nine months by Egypt, Bahrain, Saudi Arabia and the UAE.
QNB issued a statement saying "QNB Group intends to recommend to the Extraordinary General Assembly of the Bank, to approve increasing the percentage of non-Qatari ownership in the company's capital to 49 percent instead of 25 percent."
Qatar's bank also revealed in its statement the schedule for the EGA to take effect to be announced "in due course".
MENAFN1403201800450000ID1096589667
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