To: All Banks operating in Qatar

Subject: Issuance of Financial Instruments Eligible for Additional Tier 1 Capital to be Offered in International Markets

Upon banks increased demand on issuing financial instruments eligible for additional tier 1 capital to be offered in the financial markets, and to maintain capital base resilience at banks depending on high quality and more risk resistant financial instruments to avoid any legal and market risks that may negatively affect the Qatari financial sector;

QCB decides the following:

Banks may issue financial instruments eligible for additional tier 1 capital to be offered in the financial markets provide that:

A- It must be in US dollar.

B- The total of this instrument must not exceed at any time 50% of the total paid up capital and the retained earnings. The total instruments eligible for tier 1 inside or outside Qatar must not exceed 50% of the total capital base.