OREANDA-NEWS. Qatar CentralSecurities Depository (QCSD) announced that it had amended the foreignownership percentage in the shares of the Commercial Bank to become 49% of thebank''s capital, as of Monday, May 18, 2015.

The QCSD explainedthat this amendment comes in implementation of Law No. (9), which allowsforeign investors to own a percentage not more than 49% of each company listedon Qatar Stock Exchange. The Law also provides for the treatment of the GCCcitizens as Qataris in terms of owning the shares of the listed companies.

This move comes afterthe Commercial Bank has received an approval from its general assembly to amendthe articles of association in line with the law provisions, and following theapproval of the Ministry of Economy and Commerce on the amendment.