Masraf Al Rayan Sets Sights on Acquiring Remaining Shares in UK Subsidiary.

Doha: Masraf Al Rayan, a Qatari public shareholding company, has declared its intention to acquire the remaining minority shares, which constitute 1.66 percent of the share capital, in its UK subsidiary, Al Rayan Bank Plc. Previously known as the Islamic Bank of Britain, Al Rayan Bank is registered and established under the laws of England and operates under a license from UK regulatory authorities. The acquisition plan is contingent upon obtaining approval from the minority shareholders. According to Qatar News Agency, the announcement was made through a statement published on the Qatar Stock Exchange website. The move highlights Masraf Al Rayan's strategic interest in consolidating its ownership of Al Rayan Bank, reflecting a step towards potentially streamlining operations and enhancing its presence in the UK market. The bank continues to navigate the necessary regulatory requirements to complete this acquisition process.