Doha - Amid the global financial crisis Qatar Investment Authority announced Monday that it is buying between 10 and 20 per cent of the capital of Qatar's native banks listed on the stock market, reported the Qatar-based al-Jazeera TV channel.

The decision came to enhance confidence in the Qatari stock market, noting that it will buy the banks shares at Sunday's closing price.

The announcement came at a meeting attended by the Prime Minister of Qatar, Sheikh Hamad bin Jassem al-Thani, representatives of the banks listed on the Doha Securities Market and the Deputy Governor of the Central Bank.

The Qatar investment institution seeks to pump liquidity into Qatari banks to enable them to finance development projects.

Qatar's stock market on Sunday made the highest loss among the Gulf stock markets with a loss of more than 7 percent. (Dpa)