QNB Manages the Payment Process Of the Remaining Amounts Of The Shares of Nakilat and Offers Financing to Shareholders

Qatar, January 21, 2007
The Acting Chief Executive of Qatar National Bank (QNB), announced that QNB will manage the payment process of the remaining due amount on Nakilat shareholders. QNB had managed in 2005 the Initial Public Offering (IPO) for NAKILAT, in which 50% of the company’s offered capital amounting to QR2.8 billion was paid.

QNB motivated by its trust in the strength of the Qatari economy, will finance fully (100%) of the remaining value of the shares (5 Qatari Riyals per share), and this applies to whomever wishes from the shareholders, regardless of whether they are QNB customers or not.

QNB’s Acting Chief Executive added that QNB Al Islami will take part through Islamic financing in order to aid the shareholders in paying the due amount. This comes after the QNB’s al Islamis Sharia Advisory Board authorized the financing of the money due for NAKILAT’s IPO.

Qatar’s Central Bank has given its approval to QNB to finance the payments of the shares’ of NAKILAT’s.

It was confirmed that subscribers in NAKILAT can apply for financing requests at QNB, provided that they meet the terms and conditions requested. He also highlighted QNB’s bright record in managing several successful IPOs in Qatar and promised that the bank will utilize all its resources for the purpose of facilitating the payment and financing process.

The settlement of the remaining 50% of the capital value will start on Thursday, 1 February 2007 and will last until the end of the working hours on Thursday, 15 February 2007 (1:00 p.m.).

Repayments will be accepted at all 37 QNB branches in addition to 6 QNB Al Islami branches during working hours. QNB will shortly announce the evening opening hours of some of these branches.

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