Qatar: The Qatar Exchange (QE) 20 Index surged 0.30% Thursday, closing at 8,785.17 points amid gains in the industrials and real estate sector. Shares of Qatar Islamic Bank (QIB) advanced 0.78% to QR77.60. On Wednesday, QIB reported a 21% jump net profits for the first quarter, amounting to QR388m ($106.6m). QIB benefitted from the central bank's decision to separate islamic from conventional banking. Since January 1, conventional local and foreign banks are not allowed to offer Shari'ah-compliant financial products through an Islamic window. [AMEInfo.com]
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