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Qatar to launch energy-focused Islamic bank with $10 billion capital

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DOHA (Reuters) – Qatar will launch an energy-focused Islamic lender in the fourth quarter with a capital of $10 billion (7.53 billion pounds) to finance global projects, an executive said on Tuesday.

Energy Bank will be “the biggest Islamic bank of its kind in the world, offering funding for energy projects worldwide, and with a $10 billion capital under the umbrella of Qatar Financial Centre,” said Khaled Al Suwaidi, chairman of the new bank.

(Reporting by Eric Knecht; Writing by Saeed Azhar; Editing by Louise Heavens)

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