Masraf Al Rayan to close brokerage business
Masraf Al Rayan has announced that it will suspend the activities of its Al Rayan Financial Brokerage Company (ARB), along with its licence issued by the Qatar Financial Markets Authority, without giving a reason.
The company’s last date of trading will be 12 January 2017, after which all remaining client stocks will be transferred to the Qatar Central Securities Depository before activities are terminated on 23 February 2017.
Approval to halt the brokerage arm’s activities has already been obtained from the Qatar Financial Markets Authority, the Qatar Central Securities Depository and Qatar Stock Exchange.
“Al Rayan Financial Brokerage Company would like to assure its customers, employees and other stake-holders that it would comply with the instructions of the Qatar Financial Markets Authority, Qatar Stock Exchange, and Qatar Central Securities Depository to protect direct and indirect stakeholders’ rights as they may pertain to the suspension of the activities of the company as per the plan established by the company’s management,” Masraf Al Rayan said in a statement posted on Qatar Exchange.