Qatar's QNB withdraws from Libya's Bank of Commerce & Development

February 5, 2019

The Bank of Commerce & Development announced that it has acquired the foreign partner's share in the bank, Qatar National Bank (QNB) at 49% of the total shares.

The bank clarified in a statement that the share of QNB was bought by Libyan shareholders, noting that the bank raised its capital to 250 million dinars.

QNB announced six months ago its intention to sell its stake in the Bank of Commerce and Development, the largest private bank in Libya.

libyaobserver