Shareholders of National Bank of Ras al-Khaimah (Rakbank) will meet on May 1 to decide whether to allow foreigners to hold up to 40 per cent of its shares, the lender said in a bourse statement on Monday.
The bank, which is listed
Shareholders of Dubai property developer Deyaar have approved a plan to allocate 25 per cent of its share capital to foreigners, the company said on Saturday.
At present, investors in Gulf countries can own up to 49 per cent
Dubai's Union Properties said on Monday that its board of directors had recommended increasing the cap on how much foreign investors can own in the developer to 25 percent.
The firm did not say from what level it was raising t
Dubai's Mashreq has increased the limit on foreign ownership of its shares to 49 percent, its chief executive said on Monday, in line with a wider move by companies in the UAE to open up to international investors.
Deyaar Development said the company board has recommended allocating 49 per cent of its share capital, open to non-UAE nationals, to GCC and foreign investors, provided that the share of capital owned by foreigners does not exceed 25 per cent.
Dubai Islamic Bank, the largest sharia-compliant lender in the emirate, said on Wednesday it would increase its foreign ownership limit to 25 per cent from 15 per cent.
The bank said the decision had been approved by its board of
Commercial Bank of Qatar (CBQ) and Qatar Islamic Bank (QIB) have asked Qatar Exchange to increase the number of their shares available to foreign investors to 25 percent of their market capitalisation, the exchange said on Wednesday.
Sri Lanka will allow foreigners full ownership of businesses if they invest more than $10 million, a minister said, and the measure will likely be introduced within two months.
The proposed change comes as the $59 billion economy
Abu Dhabi-based Finance House (FH) has approved opening up of shareholding to foreign ownership to an extent of 20 per cent of its paid up equity share capital.
An Extraordinary General Meeting (EGM) approved this proposal.