Masraf Al Rayan shareholders approve Libyan bank buy

February 26, 2013 - 1:30:42 am
The extra ordinary general assembly of Masraf Al Rayan approved the acquisition of a strategic share in a commercial bank in Libya through capital increase of the targeted bank. The acquisition will have to be approved by authorities in Qatar and Libya. The assembly agreed to empower the board of directors of Masraf Al Rayan to take decisions concerning urgent business/company acquisitions up to a total cost of QR1bn for two years from the date of this approval and inform shareholders.