Quotes: US 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
 Oct 22 2014 - China Fiscal Revenue Rises 6.3% in SeptemberQatar News Agency
(MENAFN - QNA) China's fiscal revenue rose 6.3% year on year to 995.3 billion yuan about (162.6 billion US dollars) in September, quickening from a 6.1% rise in August, the Chinese Ministry of ...

 Oct 22 2014 - Tokyo Stocks End Sharply up WednesdayQatar News Agency
(MENAFN - QNA) Tokyo stocks ended sharply higher Wednesday, boosted by overnight rises in European and US stocks. The 225-issue Nikkei Stock Average rose 391.49 points, or 2.64%, from Tuesday to ...

 Oct 22 2014 - Cooperating Robots Developed in China-US ProjectQatar News Agency
(MENAFN - QNA) An award-winning collaboration between Chinese and American researchers has pointed the way forward for the use of cloud computing to link different robots and make them more ...

 Oct 22 2014 - Summary of Local News Released Tuesday - 3-Qatar News Agency
(MENAFN - QNA) - World Innovation Summit for Health (WISH) has appointed chairperson for the WISH Dementia Forum that will mull current challenges, innovation in care-giving, financial models and ...

 Oct 22 2014 - Ban Calls for Investigation into Israeli Attacks on UN Facilities in GazaQatar News Agency
(MENAFN - QNA) United Nations Secretary-General Ban Ki-moon called for a thorough investigation into incidents where UN facilities sustained hits and many innocent people were killed by the Israeli ...

 Oct 22 2014 - China Responds over "Hacker Infiltration to Apple's iCloud"Qatar News Agency
(MENAFN - QNA) China reiterated opposition to cyber attacks from hackers in all forms after media reported Chinese hackers infiltrated Apple's iCloud. "China is resolutely opposed to hacker attacks ...

 Oct 22 2014 - At Least 37 Taliban Militants Killed in AfghanistanQatar News Agency
(MENAFN - QNA) At least 37 Taliban militants were killed following military operations by Afghan national security forces in the past 24. The Afghan Ministry of Interior said Wednesday that the ...

 Oct 22 2014 - Japan's KEPCO to Submit Revised Takahama Safety PlanQatar News Agency
(MENAFN - QNA) The operator of a power plant on the Sea of Japan coast says it will submit revised safety measures to the country's nuclear regulator as early as next week, Japan's (NHK World) ...

 Oct 22 2014 - OIC states condemn Israeli violations against Al-Aqsa Mosque and Muslim worshipers 3 New YorkSaudi Press Agency
(MENAFN - Saudi Press Agency)  On Syria, the ambassador expressed deep concern about the escalation of acts of destruction, violence, murder and heinous crimes committed against the Syrian people as ...

 Oct 22 2014 - Saudi Transport Minister heads Kingdom's delegation to meetings of Arab Transport Ministers in EgyptSaudi Press Agency
(MENAFN - Saudi Press Agency)  The Council of Arab Ministers of Transport started their 27th session here today in the presence of Ministers of Transport and Communications of various Arab ...

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

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

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
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

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


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help