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In a bid intended to attract more inward investment Qatar on 5 August issued a law formally raising the limit of foreign ownership in firms listed on the Qatar Exchange to 49% from 25%. Qatar first announced its intention to raise the limit in May.
The new law stipulates “non-Qatari investors are allowed to own no more than 49% of the shares of Qatari shareholding companies listed on the Qatar Exchange.” The law says that listed companies should seek approval from the Ministry of Economy and Commerce to amend their Articles of Association in order to raise the foreign ownership limit to 49%. It is not yet clear whether all Qatari firms would now be obliged to raise their ceilings to 49%, or how much time they have to do so. (CONTINUED - 259 WORDS)