QNB is launching a debt fund (bond), a first such initiative by a lender in Qatar.
The fund will be denominated in local currency with a minimum investment requirement of QR20,000 and thereafter in multiples of QR10,000.
Aiming to make the appeal of the debt fund as broad as possible, QNB is offering a unique opportunity to subscribe to the fund, with no monthly subscription or redemption fees.
The fund is suitable for investors who are seeking an enhancement to the returns which they would otherwise receive via deposits.
As such, it is likely to be appropriate both for individual and corporate/institutional investors.
“This innovative product is yet another example of QNB’s determination to remain the partner institution of choice,” a company spokesman said.
QNB is the first bank to launch a debt fund subject to the regulatory authority of the Qatar Central Bank.
Mannai Corp rights issue oversubscribed
Mannai Corporation has said it’s recently concluded rights issue was oversubscribed by 11.47%.
“This over-subscription is proof of the trust the shareholders have in the future of the company which continues to successfully expand both in Qatar and regionally to diversify its earnings by investing for growth,” Alekh Grewal, Group chief executive officer of Mannai Corporation, said.
The refund orders for over-subscription can be collected from the counters of HSBC Bank Middle East, Main office, Airport road, Doha, Qatar.