Qatar Tells Conventional Lenders To Stop Islamic Ops
Qatar Central Bank has ordered conventional lenders operating in the gas-rich Gulf Arab state to shut down Islamic finance activities by the end of 2011, in a move that could curb an important source of income for many banks.
From the move will benefit players such as Masraf Al Rayan and Qatar Islamic Bank, whose shares rose 10% and 8.4% respectively.
Syndicate
