Global Investment House recommends buy on Masraf Al Rayan
Masraf Al Rayan was incorporated as Qatari Shareholding Company in January 2006 and operates through its head office in Doha with two local branches, all operating in the Qatar. The bank commenced its activities in October 2006. Masraf is engaged in banking, financing and investing activities in accordance with its articles of incorporation and the Shariâ€™ah principles and regulations of the Qatar Central Bank. The bank came out with its IPO in January 2006. It floated 412.5 million shares through the IPO at a nominal value of QR10 per share. The authorised share capital of the bank is $2 billion divided into 750 million shares. At the end of 2007, the issued and paid up capital of the bank is $1 billion divided into 749.9 million shares with a paid-up value of QR5 ($1.3) per share.