Turkey to sell 10% of Borsa Istanbul to Qatar

Thursday, 26. November 2020 15:54

Turkey and Qatar signed a memorandum of understanding that stipulates the Qatar Investment Authority (QIA) will purchase 10% of Borsa Istanbul from the Turkey Wealth Fund (TWF).

The deal for Qatar's sovereign wealth fund to buy a share in Turkey's only stock exchange comes after Turkish President Recep Tayyip Erdogan hosted Qatari Sheikh Tamim bin Hamad Al Thani in Ankara as part of the sixth meeting of the Turkey-Qatar Supreme Strategic Committee.

According to the stock exchange's official website, 90.6% of Borsa Istanbul currently is owned by the TWF while 5.83% is owned by others, including brokerage houses, banks, precious metal and foreign exchange companies.

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Author:
Breaking the News / VP