Rifaat Abdel Karim

IFSB response to QCB position on Islamic banking windows

The issuance by the Qatar Central Bank (QCB) of a directive requiring the country’s conventional banks which have opened Islamic banking windows (IBWs) to close them down by the end of 2011 may result in operational complexities in the implementation of the directive.
Both Professor Rifaat Abdel Karim and Islamic bankers such as Richard Thomas agree that the complexities lie with trying to match short-term deposits placed with the IBWs with their longer term liabilities.

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