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Qatar’s QFIB rules out JV approval before year-end

Qatar First Investment Bank (QFIB) has said that its joint venture with GulfMena Alternative Investments is not likely to be approved before the end of the year, Reuters has reported. QFIB CEO Emad Mansour said that he thinks the lender will seek an official licence in the next four to six weeks. He has reiterated that the company sees double-digit revenue growth "in the region of 20%" in 2011.