Qatar Islamic Bank signs deal to fund establishment of Al-Waseel Tower

Qatar Islamic Bank (QIB) has signed a 78 mln Qatari riyals ($21.4 mln) Sharia-compliant Istisna'a agreement to fund the establishment of Al-Waseel Tower in the capital Doha, Raya newspaper reported.

The tower, to be used for administrative purposes, will be built in the capital's West Bay area. Al-Waseel Tower is planned to comprise a basement, a ground floor and 16 floors. The tower is to be established by the local contractor MAN Enterprise Qatar over an 18-month period.