Commercial Bank of Qatar announces participation in Government's equity investment proposal.Summary: Commercialbank of Qatar Qatar or Katar (both: kŭ`tər, gŭ–, kətär`), officially State of Qatar, independent emirate (2005 est. pop. 863,000), c. , the largest private sector bank in Qatar, today announces its participation in the Government of Qatar's proposal announced on 8 March 2009 in which the Government offered to buy part, or all, of the Qatar DSM 1. DSM - Data Structure Manager. An object-oriented language by J.E. Rumbaugh and M.E. Loomis of GE, similar to C++. It is used in implementation of CAD/CAE software. DSM is written in DSM and C and produces C as output. equity investment portfolios of eight local banks. Commercialbank of Qatar, the largest private sector bank in Qatar, today announces its participation in the Government of Qatar's proposal announced on 8 March 2009 in which the Government offered to buy part, or all, of the Qatar DSM equity investment portfolios of eight local banks. Commercialbank has decided to take up the Government's offer and has sold its entire portfolio of Qatar equities which had a net book value of QR 937.9 million at both 31 December December: see month. 2008 and 28 February February: see month. 2009. The Government will pay QR 417.8 million in cash and provide a five-year bond of QR 520.1 million which carries a coupon A certificate evidencing the obligation to pay an installment of interest or a dividend that must be cut and presented to its issuer for payment when it is due. Coupons are usually attached to a document, such as a promissory note, bond, share of stock, or a bearer of 5.5%. The Bank has the right to re-purchase the entire portfolio, or any part of it, after a twelve month period from the date of sale and within a maximum period of five years at the original sale price. Andrew Stevens Stevens, family of U.S. inventors. John Stevens, 1749–1838, b. New York City, was graduated from King's College (now Columbia Univ.) in 1768. , Group Chief Executive Officer commented: "The sale of the listed Qatar equity portfolio to the Government offers additional certainty and security in these challenging financial markets. We thank the Government of Qatar for their decisive action in supporting the Qatar banking sector." 2009 Mena Report (www.menareport.com) 2009 Al Bawaba (Albawaba.com) Provided by Syndigate.info an Albawaba.com company |
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