Qatar’s Al Jazeera Finance plans an IPO

11 Oct 2012

(MENAFN) Qatar’s Al Jazeera Finance’s CEO, Amir Mohammad Al Jabri, announced that the company plans an initial public offering (IPO) in order to be listed on the Qatari bourse, reported The Peninsula citing Al Sharq.

Al Jabri said that the Shariah-complaint financial services firm is waiting the approval of the Qatar Exchange administration to launch the IPO, whose primary issue is forecasted to be USD274 million.

He added that the demand for Islamic funding is expanding in a number of sectors, including industry, real estate, trade, services, agriculture and the consumer-financing sector.

It is worth noting that Al Jazeera’s consumer financing policy is based on the salary of the borrowers, which is guided by the central bank and followed by all banks and financial institutions in the country, whereas trade financing is based completely on a firm’s capital and assets, liquidity flow and partners to reduce the risk.

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