DUBAI: Qatari Diar has transferred its shares in Al Khaliji Commercial Bank to Qatar Investment Authority (QIA), the property arm of Qatar’s sovereign wealth fund said yesterday. Diar, which had been Al Khaliji’s largest shareholders, moved 61.9 million shares in the bank to QIA on Tuesday.
Based on Al Khaliji’s closing price on Tuesday, the stock was worth QR1.35bn, according to Reuters calculations.
DUBAI: Abu Dhabi’s new financial free zone plans to base its rules on English common law, in a decision that could reduce costs and help the emirate develop stronger banking and securities market ties with neighbouring Dubai.
Agencies
