Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar - Al Khaliji gets shareholders' nod to hike foreign ownership limit  Join our daily free Newsletter

MENAFN - The Peninsula - 24/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - The Peninsula) The shareholders of Al Khalij Commercial Bank (al khaliji) has given their nod to the bank to increase its foreign ownership limit from the existing 25 percent to 49 percent of the bank's listed shares



The change allows the bank to open up to international investors and increase the liquidity of the bank's share.



"Al Khaliji has reviewed its foreign ownership caps to qualify for inclusion in the MSCI index once Qatar will be upgraded to emerging market status," Hamad bin Faisal bin Thani Al Thani, Chairman and Managing Director, said here yesterday after the bank's Annual General Meeting and Extraordinary General assembly (EGA)



The meetings endorsed the Board recommendation to distribute cash dividends of 10 percent of the bank's paid-up capital, that is QR1 per share



Addressing the AGM, Hamad bin Faisal said: "We are in the midst of an unprecedented structural growth story that will transform the face of Qatar. The large capital expenditures associated with the country's infrastructure sector will be the key driver of loan growth in the banking sector for the foreseeable future"



"The prospects for al khaliji, as a Qatar centric organisation, are equally promising. In late 2012, we established a clear goal in our 2013-2015 Strategy - to be a unique specialist bank with a smart way of competing in relevant banking markets. This transparent process provides our stakeholders with confidence in the long-term returns available as we continue to support the economic growth agenda of Qatar," he said



"As 2013 was the initial year in the bank's three-year road map it was important for us to prioritise and deliver on certain objectives to ensure we are well positioned to continue to build scale in our clearly defined market segments. Understanding the customer perspective is key and spending wisely in appropriate areas to build special relationships with our customers are important. There is ample evidence that we have made significant progress on the course we set," he said.



The chairman noted that the innovative spirit of the bank has been positively recognised and in 2013. Al khaliji has received the coveted titles, 'Best Premium Bank Service Award', the 'Best-Structured Product' and the 'Best Premium Bank in the Middle East' by the Middle East Banker Awards. Another instance of al khaliji's excellence is evidenced by the mandated lead arranger market in the MENA. 2013 was the first time al khaliji featured as one of the Top 10 amongst all banks in the region for syndications.


 


The Peninsula




  MENA News Headlines
 May 24 2015 - Kuwait- Min. of Amiri Diwan receives KISR delegationKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Minister of Amiri Diwan Affairs Sheikh Nasser Sabah Al-Ahmad Al-Sabah received a delegation of the Kuwait Institute for Scientific Research (KISR) including Dr. ...

 May 24 2015 - Kuwait- His Highness Crown Prince receives top officialsKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) His Highness the Crown Prince Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah received on Sunday at Bayan Palace His Highness the Prime Minister Sheikh Jaber Al-Mubarak ...

 May 24 2015 - GCC-EU ministerial meeting held amidst critical developments - Qatari FMKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Qatari Foreign Minister Khaled Al-Attiyah said GCC-EU ministerial meeting, in Doha on Sunday, was held amidst critical regional and international developments, ...

 May 24 2015 - Kuwait- Info Min. stresses important role of FANA amid current circumstancesKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Minister of Information and Minister of State for Youth Affairs Sheikh Salman Sabah Salem Al-Humoud Al-Sabah on sunday underlined the important role of the ...

 May 24 2015 - Arab army chiefs resume meetingKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The chiefs of staff of Arab armed forces resumed their meeting here Monday under chairmanship of the Chief of Staff of Egyptian Armed Forces Lieutenant General ...

 May 24 2015 - Kuwait- His Highness Premier meets Iraq parliament speakerKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah held talks Sunday at Bayan Palace, with the visiting Iraqi Speaker of the Council of ...

 May 24 2015 - EU major partner for GCC - ZayaniKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The European Union (EU) has been a key partner for the Gulf cooperation Council (GCC) since the six-member bloc was established in 1981, according to GCC ...

 May 24 2015 - Salmiya Sports Club Reign SupremeArab Times
(MENAFN - Arab Times) The Salmiya Sports Club won the Kuwait Karate Federation Junior category trophy for 2014/2015 Championships. The finals and awarding ceremony were held under the auspices of the ...

 May 24 2015 - Q8 Opens First CNG Service Station In BelgiumArab Times
(MENAFN - Arab Times) The international arm of Kuwait Petroleum, Q8, on Thursday took another big step and major milestone in strengthening and expanding its presence in Europe by opening its first ...

 May 24 2015 - Kuwait- Wataniya Telecom Dives 40 Fils NBK FlatArab Times
(MENAFN - Arab Times) Kuwait stocks headed south on Thursday to close the week on a sour note. The key index dropped 46.87 pts to 6332.27 points snapping the 2-day upswing. The banking shares were ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help