Qatar: The QE 20 Index slipped 0.66% to 8,416.83 points. Qatar International Islamic Bank or QIIB closed 0.80% lower at QR49.50. Earlier in the day, that it is resigning its seat on the Board of Directors of Syria International Islamic Bank ("SIIB") and withdrawing its representative from the Board following the decision taken by the U.S. Department of the Treasury ("Treasury") to impose sanctions against SIIB. QIIB confirmed that it would also take the necessary steps to ensure that Treasury's sanctions against SIIB would not be evaded by persons dealing with QIIB. . Yousef Ahmed Al Naama, who had served as QIIB's representative on the Board of SIIB, said that "in light of the decision taken to impose sanctions on Syria International Islamic Bank, I and my fellow Qatar-based, non-executive directors no longer felt we were in a position to continue our roles as directors. Qatar International Islamic Bank takes the issue of sanctions imposed by the international community seriously. We were unaware of the actions taken by SIIB that led to the decision to impose sanctions and we cannot condone any such activity by continuing in our roles as directors." [AMEInfo.com]
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