Qatar Islamic Bank (QISB.QA) (QIB) may snap up the Islamic banking assets of conventional lenders in Qatar, who are facing a central bank order to shut their Islamic operations, a top executive said on Tuesday.
Qatar's central bank this week told conventional banks to close their Islamic operations by year-end, amid worries of overlap between the two, in a surprise move that lifted shares of Islamic lenders. [ID:nLDE71503A]
The central bank gave no direction on whether banks can apply for separate Islamic banking licenses and analysts have said conventional banks may need to sell their Islamic units.
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