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Shareholders of Qatar’s Commercial Bank PSQC have approved a proposal to increase the foreign ownership limit to up to 100 percent.
In a statement to the Qatar Stock Exchange (QSE), the bank said its board had also been authorised to amend articles of association to reflect that non-Qatari investors may own up to 100 percent of the capital, subject to compliance with the Qatar Central Bank’s related instructions.
The shareholders' approval follows approval from the Ministry of Commerce and Industry last month.
In April 2021, the Qatari cabinet approved a draft law allowing non-Qatari investors to own up to 100 percent of companies listed on the local bourse.
(Writing by Imogen Lillywhite; editing by Cleofe Maceda)
