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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Qatar investment authority to take Qatari bank stakes

Posted on 14 October 2008

From Bloomberg: Qatar Investment Authority, the country’s $60 billion sovereign wealth fund, will contribute as much as 20 percent to the capital of local banks traded on its stock exchange as Persian Gulf countries try to protect themselves from the global credit crisis.

Qatari banks traded on the Doha bourse are in a sound position and there is no justification for the drop in their share prices, the Qatari state news agency cited Prime Minister Sheik Hamad bin Jassim bin Jaber Al Thani as saying after meeting with the local banks yesterday. The sovereign fund has agreed to contribute 10 percent to 20 percent of banks’ capital to guarantee financing for development projects, he said…… Full Article: Source


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