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Qatar's emir has issued a law providing for foreign investors to own up to 49 percent of listed Qatari companies, part of reforms to expand the stock market and develop the financial industry.Citizens of the six-nation Gulf Cooperation Council will be treated as Qatari citizens for the purpose of owning firms listed on the Qatar Exchange.Currently, listed Qatari firms impose ceilings on combined foreign ownership that are usually no more than 25 percent, though some have already raised their ceilings above that level.The free floats of many major Qatari firms are limited by large stakes held by the government; for example the Qatari state owns 43 percent of Qatar National Bank, according to Thomson Reuters data.
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