ID :
199027
Wed, 08/03/2011 - 21:38
Auther :
Shortlink :
http://m.oananews.org//node/199027
The shortlink copeid
Qatari Regulator Authorises Abu Dhabi Islamic Bank to Start Operations
Doha, August 03 (QNA) - The Qatar Financial Centre (QFC) Regulatory Authority Wednesday authorised Abu Dhabi Islamic Bank's branch here to conduct business in and from the Qatar Financial Centre, the Regulator said in a media statement.
Abu Dhabi Islamic Bank sauthorisation, as a PIIB Prudential Category 5 Islamic financial institution, permits it to carry on regulated activities in relation to receiving deposits, providing and arranging financing facilities and managing investments, the Regulator added.
The QFC Regulatory Authority is an independent regulatory body established by Article 8 of the QFC Law. It regulates firms that conduct financial services in or from the QFC. It has a broad range of regulatory powers to authorise, supervise and, when necessary, discipline firms and individuals.
The QFC Regulatory Authority regulates firms using principle-based legislation of international standard, modelled closely on that used in major financial centres.
Abu Dhabi Islamic Bank sauthorisation, as a PIIB Prudential Category 5 Islamic financial institution, permits it to carry on regulated activities in relation to receiving deposits, providing and arranging financing facilities and managing investments, the Regulator added.
The QFC Regulatory Authority is an independent regulatory body established by Article 8 of the QFC Law. It regulates firms that conduct financial services in or from the QFC. It has a broad range of regulatory powers to authorise, supervise and, when necessary, discipline firms and individuals.
The QFC Regulatory Authority regulates firms using principle-based legislation of international standard, modelled closely on that used in major financial centres.
