MOROCCO-BOUND

Qatar Today - - BUSINESS BANK NOTES -

QATAR IN­TER­NA­TIONAL IS­LAMIC BANK (QIIB) AN­NOUNCED IN A STATE­MENT THAT IT HAD RE­CEIVED AP­PROVAL FROM MOROCCO'S BANK AL MAGHRIB TO START OP­ER­AT­ING IN THE COUN­TRY. THE FU­TURE BANK WILL BE A JOINT VEN­TURE BE­TWEEN QIIB AND MOROCCO'S CIH BANK (CRÈDIT IMMOBILIER ET HÔTELIER). THE STATE­MENT ALSO RE­VEALED THAT QIIB IS CUR­RENTLY WORK­ING WITH CIH BANK “TO SAT­ISFY THE REL­E­VANT RE­QUIRE­MENTS AND REG­U­LA­TORY AP­PROVAL OF AU­THOR­I­TIES” BOTH IN QATAR AND MOROCCO.

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