Abu Dhabi Islamic Bank gets approval for Qatar branch

Qatar Financial Centre Regulatory Authority (QFCRA) has granted Abu Dhabi Islamic Bank the necessary approval to open an Islamic branch in country, Reuters has reported. The move comes six months after a central bank verdict asked conventional lenders to stop operating Islamic branches in the country. The authorisation will allow the bank to carry on regulated activities in relation to deposit taking, providing and arranging financing facilities and managing investments, the regulator said.