Qatar Market ends fails to join GCC rebound
The Qatar Exchange 20 Index fell 0.67 per cent to 11,170.25 points on Tuesday, January 28. Shares of Masraf Al Rayan fell by 0.29 per cent to QAR34.35. Earlier in the day, the Islamic bank said that, in 2013, it generated a net profit of QAR1.7 billion versus QAR1.5bn in 2012. The bank’s board of directors recommended a distribution of cash dividend of 15 per cent of the nominal share value (QAR1.5 per share). On January 14 2014, Masraf Al Rayan completed the purchase of Islamic Bank of Britain (IBB) for an undisclosed sum. Al Rayan bought out IBB’s former top shareholder Qatar International Islamic Bank.