Financial Times FT.com

Scramble for shares in Islamic bank

By Will McSheehy in Dubai

Published: January 23 2006 02:00 | Last updated: January 23 2006 02:00

Demand for shares in the initial public listing of Al Rayyan, an Islamic bank in Qatar, has prompted the authorities to call in riot police to calm down would-be investors ahead of the application deadline at the end of this week.

Government institutions are selling 55 per cent of Al Rayyan - which will not open for business until October - in a $1.1bn IPO.

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