gulf-times.com - Qatar made a splash in Luxembourg yesterday with deals to buy two banks in a sign of the State’s desire to make the Grand Duchy an Islamic financial centre in Europe.
Hours after the French and Belgian governments announced the break-up of the Dexia banking group, Luxembourg announced that Qatar had decided to buy the troubled lender’s unit in the country, Dexia BIL.
Moments earlier, the Belgian bank KBC revealed that it was selling its Luxembourg unit, KBL, to the Qatari state investment fund Precision Capital for €1.05bn ($1.41bn). (source)
