Commercial Bank shareholders okay increase in foreign ownership limit – The Peninsula

Commercial Bank shareholders okay increase in foreign ownership limit – The Peninsula

Doha: Shareholders of the Commercial Bank approved at the recently held Extraordinary General Assembly (EGM) to increase the non-Qatari ownership threshold in the capital of the Bank up to 100 percent.

The EGM also authorised the Board of Directors to amend the Bank’s Articles of Association to read that non-Qatari investors may own up to 100 percent 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 February 23, 2022 to increase the non-Qatari ownership threshold in the capital of the Bank up to 100 percent and Qatar Central Bank’s approval to amend the Bank’s Articles of Association as stated above.