Cabinet nod to 100% non-Qatari ownership of capital of 4 banks

Cabinet nod to 100% non-Qatari ownership of capital of 4 banks

*New authority to develop real estate sector to be established



The Cabinet on Wednesday approved a draft Cabinet resolution approving non-Qatari investor's ownership of the capital of four banks.

Under the draft resolution, a non-Qatari investor may own up to 100% of the capital of the following banks: Qatar National Bank (QNB), Qatar Islamic Bank (QIB), Masraf Al Rayan and Commercial Bank.

After listening to a presentation by HE the Minister of Municipality on the results of the work of a committee concerned with the strategy for the development of the real estate sector, the Cabinet decided to take the necessary measures to establish a new authority for the development of the real estate sector, the development of a digital platform that collects and disseminates real estate data and statistics on the Qatari real estate market, and the formulation of policies in coordination with the Qatar Central Bank to support real estate financing for individuals.

In his presentation, HE the minister addressed the assessment of the main challenges in the real estate sector and ways to face these challenges by preparing a strategy that consists of programmes and initiatives, including improving the governance of the sector, enhancing the availability of real