01.09.2011 - International Bank of Qatar sells its Al Yusr Islamic banking operations to Barwa Bank
International Bank of Qatar (IBQ) announced the sale of its Al Yusr Islamic banking retail operations to Barwa Bank. This move brings IBQ in compliance with the Qatar Central Bank (QCB) issued instructions on January 31, 2011 for all commercial banks in the country to cease their Islamic operations by December 31, 2011. An agreement was signed by Mr. George Nasra, MD of IBQ and Mr. Steve Troop, CEO of Barwa Bank and the transaction has received the approval of the QCB and the Shariah Boards of both banks..............................................Full Article: Source
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