
Abu Dhabi Islamic Bank (ADIB) has received approval from the Qatar regulator to open an Islamic branch in the Gulf state, six months after a central bank verdict asked conventional lenders to stop operating Islamic branches in the country. "We have received authorisation from the government," a spokeswoman for ADIB said yesterday, adding that Qatar is a market of interest for the Islamic lender. The Qatar Financial Centre Regulatory Authority (QFCRA) said in a statement that the authorisation will allow the bank to carry on regulated activities in relation to deposit taking, providing and arranging financing facilities and managing investments. ADIB's licence approval comes after Qatar's central bank issued a ban in February on conventional banks' operating Islamic branches, amid concerns of overlap between the two and criticism that conventional lenders with Islamic operations had an unfair advantage over standalone Islamic institutions.
GMT 19:30 2018 Wednesday ,03 January
EU launches last crisis-battling finance reformGMT 17:13 2017 Thursday ,14 December
South Korea bans its banks from dealing in BitcoinGMT 19:16 2017 Monday ,11 December
Britain’s smaller banks jostle for business banking grantsGMT 19:31 2017 Sunday ,10 December
Britain’s smaller banks jostle for business banking grantsGMT 17:28 2017 Thursday ,07 December
India's central bank holds rates at seven-year lowGMT 17:55 2017 Sunday ,03 December
Saudi banks prepare for riyal coinsGMT 15:10 2017 Wednesday ,29 November
Societe Generale shares climb after cost-cutting planGMT 19:22 2017 Friday ,17 November
Deutsche Boerse taps top banker as new CEO
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor