Qatari Islamic banks grow despite regional rift -IFSB data | Reuters

Qatari Islamic banks grow despite regional rift -IFSB data | Reuters:

Assets and revenues at Qatar’s Islamic banks have grown over the past year but an increase in problem loans and a drop in foreign currency lending underscore the impact of a diplomatic rift in the region.

Qatar has been under a diplomatic and commercial boycott since June last year, when Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic and transport ties with the world’s top exporter of liquefied natural gas.

The tiny state’s four full-fledged Islamic banks have not been immune, although their focus on Qatar’s domestic market may have helped them to some extent, according to data from the Islamic Financial Services Board.