Masraf al Rayan, Qatar's fourth-largest bank by market value, has launched a subsidiary brokerage firm to buy and sell sharia-compliant financial instruments for all types of investors, the company said in a statement on Monday.
Al Rayan Financial Brokerage Co (ARB) will offer trading services in sharia-compliant financial instruments in Qatar, and has obtained necessary licences from the Qatar Financial Markets Authority and Qatar Exchange, the statement said.
Although a 100 percent-owned subsidiary of Masraf al Rayan, ARB has its own structure, building, employees and board of directors to comply with regulatory requirements to separate the two entities, the statement added.
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