Did Masayoshi Son lose $70 billion?
Yes, Masraf Al Rayan QPSC and Al Khalij Commercial Bank (al khaliji) PQSC completed a significant merger that was approved by the Qatar Central Bank in 2021. The transaction, valued at approximately $50 billion in terms of total assets, created one of the largest Islamic banking entities in Qatar. The merger was strategically designed to consolidate their market positions, bolster the capital base of the unified institution, and support Qatar’s economic development goals under the Qatar Vision 2030 initiative. Following the completion of the merger process, the combined entity continued to operate with a stronger financial foundation to serve its customers and investors.
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