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Posted On: 18 March 2010 05:02 pm
Updated On: 12 November 2020 02:10 pm

QR150m trade cap on banks

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Banking regulator Qatar Central Bank (QCB) has specified that a listed bank being permitted to trade on the local bourse cannot buy or sell stocks worth more than QR150m on a single trading day. Banking industry sources told The Peninsula yesterday that eligible banks had already begun making preparations to start trading. “To begin with, we are setting aside funds for the purpose,” a source said. Islamic banks, he said, will be required to trade using the principles of Shariah. Asked if a bank will be permitted to buy the shares of another bank, the source said the QCB did not specify any of such restrictions. “This means that we will be free to pick stocks of our choice.”