The Commercial Bank (P.S.Q.C.) Shareholders Approve Increase in Foreign Ownership Limit up to 100%
23 March 2022
Doha, Qatar - 23 March 2022: Shareholders of The Commercial Bank (P.S.Q.C.) (“the Bank") approved at the Extraordinary General Assembly (“the EGM") on 16 March 2022, to increase the non-Qatari ownership threshold in the capital of the Bank up to 100%.
The EGM also authorized the Board of Directors to amend the Bank's Articles of Association to read that non-Qatari investors may own up to 100% of the Bank's capital subject to compliance with Qatar Central Bank's related instructions. The EGM approval follows the Ministry of Commerce and Industry's confirmation of the approval of the Council of Ministers in its meeting dated 23 February 2022 to increase the non Qatari ownership threshold in the capital of the Bank up to 100% and Qatar Central Bank's approval to amend the Bank's Articles of Association as stated above.
Ends.