Qatar National Bank
QNB sold 13.5 million shares of QNB Alahli worth LE 815.12 million ($46 million), with a value of LE 60 per share.
Qatar National Bank’s said on Wednesday its stake in United Arab Emirates-based Commercial Bank International is not for sale.
Qatar National Bank said on Thursday it had completed a $630 million Formosa bond issue to continue to diversify funding sources amid a regional diplomatic rift.
Qatari banks are turning to Asia and Europe for funding after clients from other Arab states pulled billions of dollars from their accounts following a regional diplomatic rift.
Total capital of the four banks is valued at $7.4 billion, while the assets they manage amounted to $152.7 billion.
Being heavily dependent on foreign funds, the Qatari banking system was the first sector to be negatively influenced with some Gulf firms and individuals.
A wrap-up for the most prominent news circulated during the day.
A final decision regarding the matter is yet to be made, sources tell Bloomberg.
A move by four Arab states to blacklist dozens of figures with alleged links to Qatar could squeeze liquidity at Qatari banks.
(QNB) will provide credit facilities for new factories under the initiative of Your Factory Is Ready, up to 75 percent of the factory price