The UK's Financial Services Authority has given approval for Qatar Holding to buy a controlling stake in Harrods Bank, the private banking arm of the luxury department store, it was reported.
The investment fund of the Gulf state’s royal family has appointed a new board for the lender and plans to expand its operations, the Daily Mail said, citing a spokeswoman for Harrods Bank.
“A new board has been appointed to support this exciting development,” a spokeswoman said.
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