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Qatar Islamic Bank plans listing international units

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  • Qatar Islamic Bank plans for a local exchanges listing for its international subsidiaries as it seeks to expand its Islamic banking business worldwide.

Qatar Islamic Bank plans to list its international units on their local exchanges as it looks to develop Islamic banking hubs across the world, its chief executive was quoted as saying on Saturday.

Qatar’s second-largest lender by market value, which has foreign subsidiaries in London and Malaysia and plans ventures in North Africa, France and Germany, did not give a timeframe for the listings, London-based Middle East Economic Digest reported in its latest issue, citing Salah Jaidah.

The listings would depend on when the banks reached an appropriate scale, the weekly publication said.

We are eager to continue to grow our subsidiaries within their markets so they become a key player within those markets,” Jaidah said.

“Hopefully, we will go all the way to listing them on their local exchanges.”

Qatar Islamic bank’s international units include London-based European Finance House, Malaysia’s Asia Finance Bank and Arab Finance House in Lebanon. (Reuters)



Written by Suapi Shaffaii

September 7, 2008 at 1:28 pm

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