Qatar General Insurance and Reinsurance Co. announced that its Board of Directors has approved a syndicated credit facility deal at amount of QAR2 billion, said a bourse statement.
The deal was proposed jointly by Barwa bank and Masraf Al Rayan, added the statement.
Meanwhile, the board approved an additional credit facility offer that is submitted by Qatar Islamic Bank at amount of $250 million.
The above mentioned credit facilities will be directed toward financing future real estate projects, added the company.
On other side, the board has allowed the company to have foreign ownership of up to 49%, and has invited shareholders to vote on the matter.
The deal was proposed jointly by Barwa bank and Masraf Al Rayan, added the statement.
Meanwhile, the board approved an additional credit facility offer that is submitted by Qatar Islamic Bank at amount of $250 million.
The above mentioned credit facilities will be directed toward financing future real estate projects, added the company.
On other side, the board has allowed the company to have foreign ownership of up to 49%, and has invited shareholders to vote on the matter.
Source:
Mubasher
