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Eversheds says Qatari move on Islamic windows all about ‘risk’

Posted on 11 February 2011

From Cpifinancial.net: The Qatar Central Bank has clarified a recent ruling asking commercial banks in the Gulf state to close their sharia-compliant operations by explaining that it saw higher risks from conventional lenders operating Islamic units.
Acknowledging that the Qatar Central Bank (QCB) circular took many industry analysts by surprise, Amjad Hussain, partner at international law firm Eversheds, said, “Last year, the QCB issued a ruling asking Islamic windows of conventional banks to restrict their lending. This had been preceded by an edict requiring Islamic windows to operate out of separate offices to the conventional bank……………………………………….Full Article: Source

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