DOHA: The Board of Directors meeting of Masraf Al Rayan has decided to put on hold all steps concerning acquisition of stake in a bank in Libya.
The board meeting, held on September 22, 2104, decided to suspend all arrangements regarding this until further notice or till positive indications in the field of investment in Libya are evident, a Qatar bourse filing stated.
The second-largest Shariah-compliant lender by assets in the country had said in January 2013 that it was looking to buy a strategic stake in a Libyan commercial bank, although it did not name the acquisition target. However, in a bourse filing yesterday, Masraf said it had put the deal on hold until further notice, or till positive indications in Libya.
The Peninsula/Reuters
