Masraf al-Rayan, Qatar's largest sharia-compliant bank by market value, said it has reached an agreement with the Islamic Bank of Britain (IBB) on the terms of a cash offer for IBB's entire capital, the bank said on Sunday.
Qatari Islamic lender Masraf Al-Rayan on Monday said it had launched a new GCC-wide fund with a mandate to manage up to $1.1 billion and focus on Gulf equities, as well as fixed income instruments.
"We believe the time is ripe to launch a
Qatari lender Masraf Al-Rayan expects its fourth-quarter profit to exceed the third quarter and will push ahead with its expansion strategy, the bank's chief executive said.
Adel Mustafawi said the Islamic lender was looking to grow or
Shares of Qatar's fourth-largest lender by market value, Masraf al-Rayan, tumbled on Monday after its second-quarter profit slumped, falling far short of an analyst's forecast.
Net income in the three months ended June 30 fell to 31.08 mi