QIB Group Announces the Completion of Legal Procedures Regarding Raising the Foreign Ownership Limit to 100%

Pursuant to QIB shareholders’ EGM approval to modify QIB’s Articles of Association in the Extraordinary General Meeting held on February 22nd, 2022, QIB announces obtaining all required regulatory approvals from the concerned regulatory authorities, to modify Article (9) of the Articles of Association, to allow raising the foreign ownership limit to 100%. QIB will request the concerned authorities to raise the limit of foreign ownership with immediate effect.