Qatar said to eye Turkish banking, agricultural investments

Qatar's ambassador to Turkey quoted as saying initial agricultural investment could be $500m

Qatar is reportedly in talks to buy stakes in a number of Turkish bank following a deal agreed by Qatar National Bank to buy Finansbank last year.

Turkish media quoted Salem Mubarak Shafi al-Shafi, Qatar’s envoy to Turkey as saying that the talks with Turkish banks are ongoing.

Qatar National Bank, the Gulf Arab region’s largest bank, agreed to buy Turkey’s Finansbank from the National Bank of Greece (NBG) for $2.95 billion in December.

The ambassador was also quoted as saying that Qatar is also keen on investing in Turkey's agricultural sector, with an initial investment reportedly about $500 million.

He added that Turkish businesses would be given priority for a planned stadium and other construction contracts in Qatar related to the 2022 World Cup.

Arguing that the oil plunge would not negatively affect Qatar’s investments, Al-Shafi also said Doha was targeting tourism investments in Turkey.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

NOTE: Comments posted on arabianbusiness.com may be printed in the magazine Arabian Business

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Saudi Arabia spends money to make money

Saudi Arabia spends money to make money

Tour of Asia by Saudi Arabia's King Salman advances drive to...

Soft money: will cash transactions soon be a thing of the past?

Soft money: will cash transactions soon be a thing of the past?

The rapid digitisation of banking in the UAE is enabling robots...

Oman gains breathing space with jumbo $5bn bond sale

Oman gains breathing space with jumbo $5bn bond sale

Order books for the issue totalled $20bn, showing that Oman can...

Most Discussed
sponsoredTracking