Qatar mulls change in share acquisition rules
Doha, October 1, 2013
The Qatar Financial Centre Regulatory Authority is proposing to streamline the process for acquiring stakes in financial companies, the authority said in a statement on Tuesday.
Currently even small percentage movements in ownership have to be reported by firms in the financial zone to the authority, placing administrative and time burdens on companies.
The proposed changes would introduce four threshold bands, reducing the need to seek approval unless a shareholding moved from one band to another, the statement said.
"This move would bring the rules into line with international best practice," it added.
The authority opened a consultation period with firms until Nov. 7; it did not say when a final decision on the proposed reforms would be made. -Reuters