Qatar Islamic has $15m exposure to Dubai World
Dubai, December 3, 2009
Qatar Islamic Bank said on Thursday it had exposure to a Dubai World Islamic bond maturing in 2017 worth QR54 million ($14.84 million).
The lender is the first Qatari bank to announce its exposure to the Dubai state-owned conglomerate, which is restructuring debts worth $26 billion.
'The financial impact currently will affect the negative investment fair value reserve,' it said.
'QIB will keep observing the situation and its financial consequences which will be disclosed accordingly.' – Reuters