Qatar National in Islamic finance firm deal

Qatar National Bank said on Sunday it had agreed with Kuwaiti partners to set up an Islamic financial services firm.

Qatar's largest lender by market value said it would own 30 per cent of Kuwaiti-Qatari Co for Ijara Investment, which amounts to 24 million dinars ($88.46 million), Qatar National said in a statement on the bourse Web site.

It did not specify whether the capital represented its portion or the entire company's.

The new firm will offer Islamic finance services across the Gulf Arab region, it said