Qatar’s CBQ, QIB keen to up foreign ownership limit


By Reuters

June 5, 2013

Commercial Bank of Qatar and Qatar Islamic Bank have asked Qatar Exchange to increase the number of their shares available to foreign investors to 25 percent of their market capitalisation, the exchange said on Wednesday.

The changes are expected to be implemented in six to nine months, an exchange statement said.

The statement was released before equity index compiler Morgan Stanley Capital International (MSCI) decides next week whether to upgrade Qatar to emerging market from frontier status. Qatar’s stringent foreign ownership limits have caused it to miss out on upgrades in the past.

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