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HomeMiddle EastQatari banking trio in talks for potential merger

Qatari banking trio in talks for potential merger

Masraf Al Rayan

Qatari banks Masraf Al Rayan, Barwa Bank and International Bank of Qatar have entered into initial talks for a potential merger, a statement said on Monday, in a deal that would create the Gulf state’s second-largest bank.

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The trio have begun initial discussions “to create a larger and stronger financial institution with a solid financial position and liquidity to support Qatar’s economic growth”, according to a joint statement sent to Reuters.

The new bank, which will be run in compliance with Islamic banking principles, would have assets worth more than 160 billion riyals ($44 billion), it added.

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