Tuesday 8 February 2011

Islamic banking order has customers worried

Conventional banks, in keeping with Qatar Central Bank’s directive, have stopped opening new accounts and dispensing loans at their Islamic banking units ahead of closing down these operations by the year-end.

But customers of these units, whose numbers run into thousands, are worried, wondering what would happen to their accounts and debt-servicing.

The possibility of the affected units being converted into commercial bank branches is not ruled out, reliable sources point out.

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