Qatar's sovereign wealth fund took a 5 percent stake in listed banks' capital, the second stage of a previously announced move aimed at boosting confidence.
Two weeks ago, Finance Minister Youssef Kamal said the Gulf Arab state will spend $900 million on buying the stakes by year-end as part of its measures to support the banking system.[ID:nWEA5559]
The Qatar Investment Authority (QIA) subscribed to the capital increase in national banks on Wednesday, Qatar's news agency said. It did not give financial details.
No comments:
Post a Comment