DOHA: The newly elected Prime Minister of Morocco Abdelilah Benkirane received Sheikh Khalid bin Thani Al Thani, Chairman of the Board of Directors, Qatar International Islamic Bank (QIIB) and Member Board of Directors of Qatar Islamic Insurance Company (QIC) in his office and discussed on host of issues to boost the banking and financial services in Morocco, reported an Arabic daily yesterday
They discussed to establish a banking and insurance joint venture in Morocco. Under which the Qatar International Islamic Bank and Qatar Islamic Insurance Company will extend their banking and financial service in Morocco with domestic companies.
The proposal for establishing Islamic baking and insurance companies in Morocco was propounded by Sheik Khalid in the meeting. And finally it was decided that it will be a kind of 51:49 percent join venture in which Qatari companies will own 49 percent share in the proposed businesses.
Apart from discussing business joint ventures and trade relations, they also shed light on the impact of Islamic Banking and Insurance services on the world economy, and also discussed the ways and means to strengthen the Islamic baking system further.
The high level meeting was also attended by the members of Morocco’s ‘Development and Justice Party’ and Abdul Basit Al Shibi, CEO of Qatar International Islamic Bank.
Sheikh Khalid said that this investment will provide high level banking and financial services in Morocco and with this the Islamic baking system will also get more credibility.
Sheik Khalid further highlighted the various achievements and innovative financial solutions the QIIB and QIC have extended to their customers in Qatar and overseas.
The Moroccan PM praised about the cooperation and the bilateral trade and economic relations the two countries are enjoying, and assured that these mutually beneficial relations will get strengthened further in the days to come.
He also praised about the QIIB and QIC for expressing interests in Morocco and looked forward to getting benefited from Qatar’s experience in the field of Islamic banking and insurance service.
