Al Khalij Commercial Bank (al khaliji), one of Qatar’s leading commercial banks, said it has closed its Islamic branch as per the recent order from Qatar's central bank.

Commenting on the move, al khaliji chairman Sheikh Hamad Bin Faisal Bin Thani Al Thani said, “As a pioneer Qatari bank, al khaliji will remain focused on its medium-term business strategy, which is aligned to the economic reality in the region.'

'We are leveraging our Treasury Management and Corporate Business, while we continue to offer our preferred Premium and Business Banking customers differentiated banking products and services, in an aim to constantly meet stakeholders expectations,' he noted.

Headquartered in Doha, al khaliji is one of Qatar’s leading commercial banks and a member of the Qatar Exchange Index, with around QR23.85 billion ($6.54 billion) in total assets and QR11.58 billion in customer deposits as of September 30, 2011.
 
'At al khaliji we believe that success lies in the financial security and development of people to enable them to sustain a prosperous life,' said Sheikh Hamad.

'Our products and level of service reflect our belief that to be successful, we must meet the needs of both this generation and future generations of employees, customers, investors and business partners,' he added.-TradeArabia News Service