Qatar's regulator has proposed extending its ban on onshore banks operating Islamic windows to include financial institutions in the Qatar Financial Centre (QFC), according to a consultation paper released this week.
Such windows allow conventional banks to offer Islamic financial services, provided that clients' money is segregated from the rest of the bank.
Last year the central bank banned Islamic windows in the onshore banking system, requiring conventional banks to close or divest their sharia-compliant businesses. Its motive was apparently to ensure a level playing field for Islamic banks.
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