18 May 2015
DOHA: Qatar Central Securities Depository (QCSD) yesterday announced the decision to raise the foreign ownership in Commercial Bank of Qatar (CBQ) to 49 percent of the bank's capital. The decision will be effective from today.

The QCSD explained that the decision is in line with the implementation of Law No. (9), which allows foreign investors to own a percentage not more than 49 percent of each company listed on Qatar Stock Exchange. The Law also provides for the treatment of the GCC citizens as Qataris in terms of owning the shares of the listed companies.

This move comes after the Commercial Bank has received an approval from its general assembly to amend the articles of association in line with the law provisions, and following the approval of the Ministry of Economy and Commerce on the amendment.

© The Peninsula 2015