Middle East Economic Survey


No 3



Qatari Investors Set Up Al-Rayan Bank

A new bank is being set up in Qatar with a capital of QR7.5bn ($2,060mn) divided into 750mn shares of QR10 ($2.7) each. The founders, consisting mainly of al-Diyar Real Estate Investment Company and the General Authority for Retirement and Pensions, have subscribed to 45% of the shares (25% for Qataris and 20% for GCC investors) of al-Rayan Bank and the remaining 55% will be offered for public...