QIIB to begin operations in Morocco with four branches
22 Feb 2017 - 22:42
By Sachin Kumar / The Peninsula
Sheikh Dr Khalid bin Thani bin Abdullah Al Thani, Chairman and Managing Director of Qatar International Islamic Bank (QIIB) yesterday inaugurated the bank’s new branch at the Mall of Qatar.
Qatar’s leading Islamic lender QIIB is expected to start its operations in Morocco by the first quarter of the current year. The bank is likely to begin operations with four branches, said Abdulbasit Ahmad Al Shaibei, Chief Executive Officer of QIIB.
“We have already selected the name of the bank and it will be submitted to the Central Bank of Morocco, who is going to disclose the name. The bank is expected to begin its operations in the first quarter of current year. The headquarter of bank is ready and we will start operations with four branches,” said Al Shaibei, talking to reporters on the sidelines of inaugural ceremony.
The lender had signed a joint venture agreement with CIH Bank (Credit Immobilier et Hotelier), a Moroccan bank, for the establishment of a bank in Morocco in December 2015. Under the agreement, QIIB will have 40 percent stake in the proposed bank.
Following the ribbon-cutting ceremony, which marked the formal launch of business activities at the new branch, Sheikh Dr Khalid along with QIIB CEO and other senior officials toured the new facility.
Sheikh Dr Khalid stressed on the importance of the new branch providing high quality services to customers and meet customer expectations, “and that strong customer loyalty must further motivate us to enhance our performance permanently.”
The new QIIB branch is on the ground floor of the Mall of Qatar, considered to be one of the most important shopping destinations in the region. It is designed based on the highest international standards and reflects the extent of development achieved by Qatar in various fields.
The bank will open three more branches this year, said the CEO. “As you know, our presence in one of the most important shopping centres in our country, and in the region in general, is vital to us as well as our customers, who can take advantage of this facility in the Mall of Qatar and do various banking transactions, said Al Shaibei.