Transformation of Qatar Development Bank from Conventional Model to Islamic Banking System - A Case Study
In February 2011, Qatar Central Bank (QCB) issued a directive orderingĀ conventional banks to wind up their Shariah-compliant banking branches, which took the banking industry in Qatar by storm. At the time, the Shariah-compliant asset allocation of conventional banks averaged about 10% of their total assets, while full-fledged Shariah-compliant banks in Qatar had assets of nearly one-fifth of the total banking assets in the country.