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Sovereign Wealth Funds Briefing - Categorized | Investment

Qatar buys shares in Al Rayan for $52.5 mln

Posted on 29 January 2010

From Maktoob.com: The Qatar Investment Authority, or QIA, has acquired shares in Al Rayan Bank last year for 191 million Qatari riyals ($52.5 million), Doha-based Al Arab daily reports Thursday citing the bank’s financial statements.

This is part of Qatar’s sovereign wealth fund’s plan to acquire 10% of the country’s largest shariah-compliant bank, the paper reports, adding that it couldn’t know whether the shares bought in 2009 cover the full 10%-stake QIA pledged to acquire………………………………..Full Article: Source

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