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QIB joins Qatar rail bonanza

The QE 20 Index slipped 0.20% to 9,608.32 points on Monday. Share of Qatar Islamic Bank, better known as QIB, advanced 0.44% to reach QR68.70. Earlier in the day, QIB said it has contributed to co-finance the Qatar Rail - Red Line North Underground project as part of a consortium of lenders. Bassel Gamal, QIB's Group CEO, sai "QIB grants special attention to strategic projects in the State of Qatar, and accordingly directs large share of its financing operations to cater the increasing demand of Islamic finance to infrastructure projects. We take pride in co-financing these enormous transportation projects in Qatar." No further details were provided in the filing to the Doha-based exchange.