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Qatar says to buy 5pct of banks' capital in Dec-TV
DUBAI Oct 5 (Reuters) - Qatar will buy another five percent of local banks' capital in December under a 2008 plan to deal with the impact of the global financial crisis, the Gulf state's finance minister said in remarks aired on Monday.
"We bought five percent last year and God willing we will buy another five percent ... in December," Youssef Kamal told Doha-basedAl Jazeera television.
Last October, the country's sovereign wealth fund, the Qatar Investment Authority, said it would buy 10 percent to 20 percent of listed banks' capital to boost confidence.
In March, Qatar said it bought $1.79 billion worth of listed banks' investment portfolios. (Reporting by Raissa Kasolowsky and Inal Ersan)
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