Doha Bank seeks nod to raise up to $5bn in short-term instruments

Doha Bank said yesterday it would seek shareholder approval to raise funds through up to $5bn worth of short term instruments. The lender is asking for approval to issue up to $3bn through certificate of deposits (CDs), it said in a bourse statement. The bank also said in the statement it would ask for shareholder approval to issue euro commercial paper worth $2bn, with a maximum tenor of up to 1 year. Both the instruments can be issued in Qatari riyals or in various major currencies. The duration of the CDs was not mentioned by the lender.