Qatar has reportedly purchased shares in Credit Suisse and will spend about $15 billion on European and U.S. bank stocks over the next year, Bloomberg News quoted the Qatari Prime Minister as saying.

Sheikh Hamad bin Jassim bin Jabr al-Thani said that Qatar is in good relations with Credit Suisse and the Arabic country bought some of the stock from the market. The Sheikh, who who is also chief executive officer of the Qatar Investment Authority, wouldn’t reveal the percentage because “still we are in the process.” Those were all the detail the Sheikh gave about this issue.

A Credit Suisse spokesman refused to discuss about the report. The Swiss stock exchange rules stipulate that every company is required to reveal the identity of any shareholder holding a stake of more than 3 percent.

Sheikh Hamad also said that Qatar plans to create in Finland and Malaysia funds of $1 billion similar to the Qatar Investment Authority.

"We did this with some Europeans like Finland," he said. "We are doing a billion dollar fund with them. And we will do with Malaysia." The Malaysian fund "will be around a billion," he said.

Persian Gulf sovereign wealth funds as well as Asian funds have been buying stakes in banks struck by U.S. subprime mortgage losses. For example, Citigroup Inc. received $14.5 billion from investors from including Singapore and Kuwait over the past two months.

Bruno Daher, Credit Suisse's Dubai-based co-CEO for the Middle East, wouldn’s comment on the matter and Zurich-based spokesman Marc Dosch did the same.

Credit Suisse, the second-largest Swiss bank, behind UBS AG, saw its shared climb 1.60 Swiss francs, or 2.9 percent, to 56.60 francs ($51.33) at 1:13 p.m. in Swiss trading.

Credit Suisse has a good relationship with Qatar and it’s the first European Bank to get a license for the Qatar Financial Centre, a business and financial centre located in Doha, providing legal and business infrastructure for financial services.