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Qatar Islamic has $15 mln exposure to Dubai World

DUBAI, Dec 3 (Reuters) - Qatar Islamic Bank QISB.QA said on Thursday it had exposure to a Dubai World Islamic bond maturing in 2017 worth 54 million rials ($14.84 million).

The lender is the first Qatari bank to announce its exposure to the Dubai state-owned conglomerate, which is restructuring debts worth $26 billion.

“The financial impact currently will affect the negative investment fair value reserve,” it said. “QIB will keep observing the situation and its financial consequences which will be disclosed accordingly.”

(Reporting by John Irish; editing by Inal Ersan)

((john.irish@thomsonreuters.com; Reuters Messaging: john.irish.reuters.com@reuters.net; +971 4 391 8301)

$1=3.638 Qatari Riyals

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