Qatari investment firm buys 78% stake in Malta's Banif Bank

A Qatari investment group has reportedly acquired a 78.46 percent stake in Banif Bank Malta for an undisclosed amount.

The Al Faisal International Trade and Investment said it hoped it would be the first of many financial services investments in Europe, according to media in Malta.

Its chairman is Sheikh Faisal Bin Qassim Al Thani, who has a net worth of at least $2.2 billion, according to the Bloomberg Billionaires Index.

He was quoted as saying that Malta was chosen because...Read more...