Cabinet Nod to 100 percent Non-Qatari Ownership of Some Banks' Capital

Cabinet Nod to 100 percent Non-Qatari Ownership of Some Banks' Capital By Darlene Regis - December 02, 2021
Cabinet Nod to 100 percent Non-Qatari Ownership of Some Banks Capital

Qatar Cabinet Meeting

HE the Prime Minister and Minister of Interior Sheikh Khalid bin Khalifa bin Abdulaziz Al-Thani chaired the Cabinet's regular meeting held at its seat at the Amiri Diwan, the Cabinet considered the topics on the agenda as follows:

The Cabinet approved a draft Cabinet resolution approving the non-Qatari investor's ownership of the capital of four banks.

Under the draft resolution, a non-Qatari investor may own up to 100 percent of the capital of the following banks:

• Qatar National Bank (QNB)
• Qatar Islamic Bank (QIB)
• Masraf Al Rayan
• Commercial Bank

After listening to a presentation by HE the Minister of Municipality on the results of the work of a committee concerned with the strategy for the development of the real estate sector, the Cabinet decided to take the necessary measures to establish a new authority for the development of the real estate sector, the development of a digital platform that collects and disseminates real estate data and statistics on the Qatari real estate market, and the formulation of policies in coordination with the Qatar Central Bank to support real estate financing for individuals.

In his presentation, HE the minister addressed the assessment of the main challenges in the real estate sector and ways to face these challenges by preparing a strategy that consists of programmes and initiatives, including improving the governance of the sector, enhancing the availability of real estate data, and stimulating real estate investment.

The Cabinet also approved a draft Cabinet resolution amending some provisions of resolution No. 11 of 2009 reorganising the Permanent Population Committee.

The draft resolution was prepared within the framework of the developments of the administrative restructuring of some authorities in the country.

Among the competencies of this committee are studying the demographic structure and its characteristics and trends, proposing the state's population policy and following up its implementation after its approval, establishing a database and information for population demographic variables, and preparing appropriate demographic and economic models for the state.

HE the Prime Minister and Minister of Interior Sheikh Khalid bin Khalifa bin Abdulaziz al-Thani chaired the Cabinet's regular meeting held at its seat at the Amiri Diwan on Wednesday.

Following the meeting, HE Minister of State for Cabinet Affairs Mohamed bin Abdullah al-Sulaiti issued a statement containing the proceedings of the day.

At the beginning of the meeting, the Cabinet welcomed Their Highnesses and Excellencies Heads of State and heads of delegations of Arab countries, who participated with His Highness the Amir Sheikh Tamim bin Hamad al-Thani in the opening of the FIFA Arab Cup Qatar 2021 on Tuesday.

The Cabinet also welcomed the delegations and teams of the Arab countries participating in the tournament.

The Cabinet expressed Qatar's pride in hosting this tournament, which symbolises solidarity and embodies the spirit of Arab brotherhood.

After that, the Cabinet considered the topics on the agenda.

The Cabinet took the necessary measures to ratify a memorandum of understanding in the legal fields between the Ministry of Justice in Qatar and the Ministry of Justice in Iraq.

The Cabinet also approved a draft memorandum of understanding on cooperation in the field of standardisation activities between the government of Qatar and the government of Kuwait and a draft air services agreement between the governments of Qatar and the Central African Republic.

Source: QNA

By Darlene Regis - December 02, 2021

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