Qatar- QIIB Explores Setting Up of Islamic Bank, Insurance Company in Morocco 

(MENAFN - Qatar News Agency) Moroccan Prime Minister-designate Abdelilah Benkirane conferred with HE Dr. Sheikh Khalid bin Thani Al Thani, Chairman of Qatar International Islamic Bank (QIIB) and Vice Chairman of Qatari Businessmen Association, and his accompanying delegation.

The meeting was also attended by senior officials in the Kingdom of Morocco as well as a number of officials from the Justice and Development Party, the winner of the last Moroccan parliamentary elections.

A QIIB press statement issued today said that they discussed the possibility of setting up an Islamic bank and an Islamic insurance company in Morocco.

During the meeting, Sheikh Dr. Khalid bin Thani Al Thani expressed a great desire to enhance and promote trade relations, especially in the field of Islamic banking services.

QIIB Chairman proposed the idea of establishing an Islamic bank and Islamic insurance company in Morocco to benefit the Moroccan citizens who will be entitled to own 51% of the shares of the banking institution while Qataris will contribute 49%.

He added that this would provide investment banking and financial services to Moroccan shareholders, especially as Moroccans favor to have Islamic Sharia-compliant projects.

For his part, the Moroccan PM-designate praised the ties of cooperation that bind together the State of Qatar and the Kingdom of Morocco and the leaders of both countries HH the Emir Sheikh Hamad bin Khalifa Al Thani and King Mohammed VI, expressing the hope to enhance bilateral cooperation to serve the interests of both peoples.