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By Neeraj Gangal
Qatar Islamic Bank said on Thursday it had exposure to a Dubai World Islamic bond maturing in 2017 worth QR54m ($14.84m).
The lender is the first Qatari bank to announce its exposure to the Dubai state-owned conglomerate, which is restructuring debts worth $26bn.
"The financial impact currently will affect the negative investment fair value reserve," it said. "QIB will keep observing the situation and its financial consequences which will be disclosed accordingly." ($1=3.638 Qatari Riyals)
Source : Reuters
Friday, December 4, 2009
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