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Qatar’s move on Islamic banks aimed at standardization

Posted on 09 February 2011

From Zawya Dow Jones: Qatar’s decision to prohibit conventional banks in the gas-rich Gulf state from operating an Islamic business from next year could bring more clarity and standardization to an industry that is often criticized for lacking both, and inspire other regulators across the region to implement similar measures.
Senior bankers in Qatar said they were taken by surprise by a central bank directive issued earlier in February ordering conventional banks to shut down their Islamic operations by the end of 2011, only six years after receiving the watchdog’s approval to introduce them……………………………………….Full Article: Source

 
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