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Cabinet nod to 15% maximum shareholding in banks

The Cabinet at its meeting yesterday approved an increase in the shareholding threshold in commercial banks from an earlier limit of 10% to 15%.

This is applicable only to those shareholders who previously held over 15% but were forced to reduce it to 10%.

Analysts said the latest move offers significant relief to major shareholders and removes the uncertainty which previously prevailed, thereby boosting investor confidence.

(FT)

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