Masraf Al Rayan in talks to take stakes in two Qatari firms, UK bank


Masraf Al Rayan - MARK
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05/06/2012 07:51 AST  Gulf Times
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Masraf Al Rayan’s Board of Directors has decided to move forward and complete the negotiations for acquiring major stake in two Qatari companies engaged in oil and gas fields’ maintenance and an Islamic bank in United Kingdom.

This was decided at the bank’s Board of Directors meeting held in Doha yesterday. Masraf Al Rayan chairman and managing director Dr Hussain Ali al-Abdulla presided.

Masraf Al Rayan and the Government of the State of Qatar plan to acquire all shares of the Islamic Bank of Britain through capital increase, under which Masraf Al Rayan will acquire 70% of the bank and the remainder the Government of Qatar.

This is subject to obtaining approval of the official authorities in Qatar and the United Kingdom. Al-Abdulla said Masraf Al Rayan was committed to disclose more information on these as they become available.

Profile: Masraf Al Rayan (MARK)
Masraf Al Rayan - MARK
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