Published: January 4, 2010
Sovereign wealth fund the Qatar Investment Authority has boosted its investments in the country’s listed banks.
The fund has reportedly spent US$900mn taking additional stakes in listed institutions following investments it made in 2009.
While exact financial details have not been confirmed by the fund, some banks have announced details of their respective funding. Commercial Bank of Qatar, for example, has said that QIA will invest some QAR807mn (US$222mn) for more than 10mn new shares in the bank, taking its holding to 9.1%. QIA took a 5% stake in the bank in February 2009.