Qatar: Qatar International Islamic Bank (QIIB) is considering the sale of the UK's only Shari'ah-compliant retail lender, as it struggles to gain scale in the UK market, Reuters has reported. The Islamic Bank of Britain (IBB) confirmed it had received an approach by QIIB, which currently owns a controlling 88.41% stake, to take over the remaining shares with a view to a possible sale as it considers the strategic future of the UK bank. Masraf Al Rayan, the biggest Islamic bank in Qatar, said last Monday that it had begun negotiations to acquire a 70% stake in IBB, with the remaining 30% stake to be bought by the Qatar government. [AMEInfo.com]
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