Tuesday, Jul 26, 2011
BEIRUT (Zawya Dow Jones)--Qatar's Al Khalij Commercial Bank, or Al Khaliji, is preparing to launch soon a brokerage firm with a capital of 50 million Qatari riyals ($13.7 million), Doha-based Al Arab daily reports Tuesday citing an executive.
Al Khaliji has received Qatar Financial Markets Authority approval for the new firm and has begun recruiting employees, Robin McCall, the bank's chief executive officer, said according to the paper.
The collapse of merger talks between Al Khaliji and the International Bank of Qatar earlier this year won't have any impact on the performance of Al Khaliji, which is still pursuing its corporate finance activities and which continues to grow with great impetus this year, the daily cites him as saying.
The merger talks have failed because of disagreement on commercial conditions and evaluation matters, McCall said, Al Arab reports.
Newspaper website: http://www.alarab.qa/details.php?issueId=1318&artid=143342
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
26-07-11 0927GMT
