Qatar has bought the real estate investments of local banks after earmarking 15 billion riyals (Dh15 billion) to buy their portfolios, the central bank governor said on Thursday.
The government said in May it would offer to buy the bank's property portfolios and loans to support a sector suffering from price declines and guarantee continued growth in the world's top exporter of liquefied natural gas.
"The programme has been implemented, funds have been allocated to eligible banks and payments have been made according to conditions," Shaikh Abdullah Bin Saud Al Thani said, the state-run Qatar News Agency reported.
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