Doha Bank seeks approval for up to $5 billion in short-term instruments

Dubai: Qatar’s Doha Bank said on Sunday it would seek shareholder approval to raise funds through up to $5 billion worth of short term instruments.

The lender is asking for approval to issue up to $3 billion 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 $2 billion, 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.