DOHA: Qatari banks Masraf Al Rayan QSC, Barwa Bank QSC and International Bank of Qatar QSC are in talks on a three-way merger as consolidation accelerates across the Middle East’s banking industry.
The potential combination would create the largest syariah-compliant bank in Qatar and the third largest such lender in the Middle East, with assets worth more than 160 billion riyals (US$44bil), Masraf Al Rayan said late Monday in a statement. Talks are at an early stage, according to the banks.
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