Gulf institutions plan to spur development of the Islamic finance industry by setting up a bank that would boost liquidity in Shariah-compliant markets. But the mandate of the bank is so wide that it may struggle to have an impact early on.
The Islamic Development Bank (IDB), a Jeddah-based multilateral institution, signed a memorandum of understanding with the Qatari government and Saudi Arabia’s Dallah Albaraka Group on Tuesday to launch an Islamic bank based in Doha………………………………………..Full Article: Source