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Islamic Finance Briefing - Categorized | Banking, Compliance, Tax, Legal, Regulatory more

Qatar to allow lenders to manage Islamic assets after deadline

Posted on 13 December 2011

Qatari commercial banks may continue to manage Islamic assets beyond the year-end deadline to close their Islamic banking arms, the central bank governor said. The banks also have the option to transfer the assets to the country’s Islamic banks, Sheikh Abdullah bin Saud Al Thani said.
Qatar’s central bank in February told non-Islamic lenders to stop offering Sharia-compliant services and wind down their Islamic units by year end on concern they may be using funds from the conventional bank for Islamic loans………………………………………..Full Article: Source

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