 |
| Sheikh Khalid and al-Shaibei holding talks with Benkirane |
International Islamic (QIIB) chairman and managing director Sheikh Dr Khalid bin Thani al-Thani, also vice-chairman of the Qatari Businessmen Association, met Morocco’s new Prime Minister Abdelilah Benkirane on Saturday and discussed the prospects of setting up an Islamic bank and an insurance company in the North African country.
The high-level delegation accompanying Sheikh Khalid, including QIIB chief executive officer, Abdulbasit al-Shaibei, also met senior Moroccan officials, members of the royal family and leaders of the business community.
They discussed ways to further strengthen bilateral ties between the two countries with particular focus on Qatari investments in Morocco.
Sheikh Khalid suggested the setting up of a joint venture Islamic bank and an insurance company in Morocco with majority participation (51%) by the North African country’s citizens and the remainder with Qataris (49%). The proposed bank can focus on Shariah-compliant investment banking, he said.
Welcoming the Qatari delegation, Benkirane recalled the close ties between the two countries thanks to the wise leadership of HH the Emir Sheikh Hamad bin Khalifa al-Thani and Morocco’s King Mohamed VI.
Benkirane expressed the hope the bilateral cooperation between Morocco and Qatar would be further strengthened.
He highlighted QIIB’s success as an Islamic bank and said its “unique model” could be emulated in Morocco. “Morocco is keen to make use of the expertise of QIIB in Islamic banking, which will further boost the kingdom’s banking industry and meet the needs of shareholders and customers,” Benkirane said.
“Investments in Morocco are now attractive given the opportunities and investment climate prevailing in the country. Morocco’s geographic proximity to the European and African markets is another major incentive,” a QIIB statement said.
QIIB, a full-service bank committed to Shariah principles, was established in January 1991 and currently has some 15 branches and more than 50 ATMs in the country. It is one of the largest Islamic banks in the region.
