Middle East Economic Survey


No 8



QCB Orders Conventional Banks To Stop Offering Islamic Banking Services

The Qatar Central Bank (QCB) has instructed conventional banks in Qatar to cease offering Islamic banking services and to wind down their existing balances by year-end. The order was unexpected but it is manageable and we will comply by it, said a banker in Qatar, adding that his bank is currently in the process of winding down its Islamic balance sheet. While...