Qatar pumps $549m into banking sector
Published: December 31st, 2009
Qatar has released the second tranche of funds – worth about QR2bn ($549m) – into the banking sector in the latest effort to help banks recover from the impact of the global financial crisis.
The funds will appear in the balance sheets of the listed banks for the current year.
The announcement was made by the Minister of Economy and Finance, Yousef Hussein Kamal on Wednesday, The Peninsula reported on Thursday, citing Qatar News Agency.
He said that the state sovereign wealth fund, Qatar Investment Authority (QIA), will pick a further five percent stake in all the listed banks in return for the investment.
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