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اليوم السابع
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Source: اليوم السابع
1 Dayاليوم السابع
Source: اليوم السابع
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The Central Bank Law provides that no natural or legal person may own more than 10% of the capital of any bank, or a percentage that gives them effective control over it, without the approval of the Central Bank’s Board of Directors. Any transaction in violation of this provision is void. Anyone owning more than 5% and up to 10% must notify the Central Bank within 15 days. For these purposes, ownership includes shares held by relatives up to the fourth degree, as well as other related or jointly agreed holdings. If a person acquires a stake exceeding 10% through inheritance or bequest, they must bring their holdings into compliance within a period not exceeding two years; otherwise, they will be denied voting rights in respect of the shares exceeding the limit.
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