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Al Rayan Investments -Qatar Financal Centre's first Islamic Finance Institution

Masraf Al Rayan has launched Al Rayan Investment, the first Islamic financial institution at the Qatar Financial Centre. The announcement was made by chairman of the board and managing director Dr Hussain Al-Abdulla at a press conference attended by the chief executive officer and director general of the Qatar Financial Centre Authority, Stuart Pearce.

Dr Al-Abdulla said: “With today’s buoyant economic conditions, expansion and the desire to diversify has created an exciting business environment. It provides us with numerous opportunities for investors, developers and government bodies to work with Islamic finance in realising their goals over the coming years. That is why today it gives me great pleasure to announce the launch of Al Rayan Investment. We are the first Islamic financial institution to be issued a license to operate within the Qatar Financial Centre, yet another great milestone for the bank and its management.”

The region’s only fully fledged commercial and investment bank with an entirely Sharia’a compliant portfolio of products, Al Rayan Investment envisions to be a new progressive power in the world of Islamic banking that will offer world class Shari’ah compliant investment services.

“All investments will be Shari’ah compliant and we believe we should be at the forefront of shaping the growing collaboration between Shari’ah compliant and other financial institutions. It is a matter of particular importance and value to us all,” added Dr Al-Abdulla.

Stuart Pearce added: “The role of Islamic finance, across the spectrum of financial services in the Middle East as well as the Muslim world generally, is growing rapidly, which makes it logical for the QFC to regard it as one of our core businesses. We are witnessing dramatic economic growth here in Qatar, so the prospects for Masraf Al Rayan seem very bright indeed. We congratulate them on their launch and we look forward to working with them to grow their business in the future.”

Masraf Al Rayan’s commercial banking will continue to offer day to day banking needs and its outstanding products and services.-TradeArabia News Service

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