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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




Tags: Dubai World | Bank | Qatar Islamic | exposure |

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