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Islamic window ban could be extended to include QFC firms
- Qatar: Sunday, October 14 - 2012 at 02:28
Qatar's regulator has proposed extending the ban on onshore banks operating Islamic windows to include financial institutions in the Qatar Financial Centre (QFC), Reuters has reported. The move would ensure that conventional banks could not take advantage of the QFC to skirt the ban. "The Regulatory Authority's proposal would create a consistent approach to Islamic windows within the State," the regulator said in the consultation paper, which is open to responses from the public until November 12. "Adopting this policy will align Qatar with international standing-setting bodies whose aims are typically focused on reducing regulatory arbitrage."
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