Qatar Islamic Bank plans Turkey, Egypt expansion

Qatar Islamic Bank is considering buying a bank in Egypt next year and applying for a licence to operate in Turkey, a company spokesman said.

Qatar Islamic Bank plans Turkey, Egypt expansion

"We are currently doing a feasibility study and evaluating to buy one in Egypt within the next six to 12 months," the spokesman, who asked not to be identified, said.

The bank would convert a conventional bank into an Islamic lender, the spokesman said, declining to be more specific. "That's the only way to enter the Egyptian market," he said.

"The bank is also seeking an Islamic licence in Turkey," he said. European Finance House, a UK subsidiary of Qatar Islamic, plans to open offices in France and Germany in the next three years, the spokesman said.

Agencies

Last Mod: 21 Mart 2008, 16:11
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