Failings had left sharia-compliant property financing specialist undercapitalised and exposed to too high risk,says regulator The UK arm of Qatar Islamic Bank has been fined 1.4m by the Bank of England for meaningful failings which left it undercapitalised and exposed to too high a level of risk. The trade – which specialises in sharia-compliant property financing – had failed to realise that more than 25% of its capital had been lent to a single group of borrowers, said the Bank of England’s regulatory arm, and the Prudential Regulation Authority.
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Source: theguardian.com