BCD parts company with Qatari Shareholder

By John Lee.

The General Assembly of Benghazi's Bank of Commerce and Development (BCD) have voted to end its partnership with the Qatar National Bank (QNB).

It said it will dispose of Qatari bank's shares "in accordance with the provisions of the agreement." A statement from the bank did not clarify how this will be done.

QNB, the Gulf state’s largest bank, acquired a 49 percent stake in BCD in 2012.

Libya's eastern-based government reportedly cut diplomatic ties with Qatar in June, following an initiative from Saudi Arabia, Egypt, and the United Arab Emirates (UAE); Egypt and the UAE are considered key supporters of Haftar and his Libyan National Army (LNA).

(Source: BCD)

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