Islamic banking : Umnia a QIIB joint venture to soon operate in Morocco

QIIB and CIH bank will soon launch its joint venture, Umnia bank./DR
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Umnia bank, a joint venture created by Qatar International Islamic Bank (QIIB) and CIH will start operating «within a short period of time»,  as pointed out by Sheikh Khalid Bin Thani Bin Abdullah al-Thani, chairman and managing director of the Qatari Islamic Bank. Reported by the Gulf Times, Sheikh Khalid declared during the bank’s general assembly meeting organized yesterday in Doha :

«We expect this investment will achieve good results based on the detailed studies done in the Moroccan market for Islamic banks.»

«We meticulously examine any available opportunity and conduct feasibility studies, especially in terms of risks», he precised concerning the steps that the Qatari International Islamic bank is making and its expansion plan that included Morocco.

Sheikh Khalid also explained that «the 2016 results proved that QIIB could greatly adapt to the banking market developments, affirm its position, develop its tools and enhance stability, which has been the bank’s hallmark since its establishment more than 25 years ago.» 

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