Malaysian Industrial Development Finance Berhad (MIDF) and Asian Finance Bank Berhad (AFB) merger could be off, as the parties have missed a February deadline for a potential deal, industry sources said. A source familiar with the matter stated hat the merger discussions are still ongoing, notwithstanding the missed deadline. The source stated: "It's taking much longer than expected due to certain complications. They are still negotiating. MIDF is waiting for AFB's FY2015 audited accounts to be out so they can come up with a final valuation on the bank." Two of AFB's four shareholders, namely Qatar Islamic Bank (Q.S.C.) (DSM:QIBK) with a 66.67% stake and Global MENA Financial Assets Limited - Financial Assets Bahrain W.L.L. (6.67%), are in talks for their stakes to be acquired by MIDF as part of the merger plan.
Qatar Islamic Bank QPSC is a Qatar-based banking institution. The Bank is primarily involved in corporate, retail and investment banking in accordance with Islamic sharia rules as determined by sharia supervisory board of the Bank, and has over 26 branches in Qatar and a branch in Sudan. The Bank operates under the following segments: Corporate Banking, which includes services offered to institutional investors, corporate, small and medium enterprises, financial institutions and investment vehicles; Personal Banking, which includes services that are offered to individual customers through local branches of the bank which includes checking and savings accounts, credit cards, personal lines of credit and mortgages, among others; Group Function, which includes treasury, investment, finance and other central functions, as well as Local and International Subsidiaries. The Bank is a subsidiary of Qatar Islamic Bank QPSC.
QATAR ISLAMIC BANK (Q.P.S.C.) 
