| From Kippreport.com: An interesting development in the Qatar banking industry has caught many off guard. The country’s central bank has ordered conventional lenders operating in the state to shut down Islamic finance activities by the end of 2011. The news was reported by Dow Jones Newswires and attributed to two bankers familiar with the matter.
According to the bankers, “The central bank earlier this month sent a memorandum to non-Islamic lenders operating in Qatar asking them to close their Islamic units without providing a reason for the decision.” The move is obviously good news for the pure Islamic operators, who have subsequently enjoyed a rise in share value in the last couple of days..............................................Full Article: Source
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