IslamicFinance.de

Masraf Al Rayan signed a partnership agreement with Qatar Red Crescent Society [QRCS] to launch its charity card to help people benefit from the services of QRCS. The card can be used only for Qatar Red Crescent activities.
Mr Adel Mustafawi, Group CEO of MAR, and Saleh Ali Al Mohannadi, Qatar Red Crescent Executive Director signed the agreement at the MAR Headquarters.
The agreement implies that MAR will launch the charity cards, which are convenient and easy to use within and beyond the State of Qatar.

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.

Masraf Al Rayan is to provide QR2bn funding to Al Meera Consumer Goods Company for financing its development and expansion plans.
Al Meera expressed its pleasure in implementing the development and expansion plans through the establishment of new branches as part of its strategy to meet the aspirations of its consumers and stakeholders, in line with country's economic progress.