IslamicFinance.de

Qatar National Bank (QNB) has halted preliminary talks with Kuwait Finance House (KFH) to buy its Malaysian unit, the Gulf Arab region's largest bank said. An agreement has not been reached. Earlier, KFH's chief executive Mazin al-Nahedh had said the bank had ruled out a sale or merger for its Malaysian unit, adding the largest Islamic bank in the Gulf Arab state will begin restructuring the unit with immediate effect. The disclosure from KFH comes after a source familiar with the matter said last week that QNB had bid to buy the unit, with the Qatari lender later acknowledging it was in early talks about an acquisition.