Qatar's central bank will meet with conventional banks to discuss options for their Islamic operations, including pooling Islamic assets into a newly created Islamic bank, a Qatari newspaper said on Tuesday.
Under the proposal, conventional banks, which were told by the central bank to close their Islamic operations by the end of the year, would move their Islamic assets to a new Islamic bank and stakes in the bank would be set by deposits and funds transferred, the daily Al Sharq said, citing banking sources.
The unnamed sources told Al Sharq that the banks would ask for an extension of the Dec. 31 deadline to liquidate and close their Islamic operations.
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