QIB Press
Digital Desk
Oct 11, 2015 | 8 Minutes
The Ministry of Economy and Commerce’s Logistics Committee and Manateq (Economic Zones Company) have signed an memorandum of understanding (MoU) with Qatar Islamic Bank to finance investors in the logistics areas in the south of the country, with terms of financing up to 10 years.
The MoU was signed for the Ministry of Economy and Commerce by Manateq CEO and vice head of logistics committee Fahad Rashed Al Kaabi and General Manager of QIB’s Wholesale Banking Group Tarek Fawzi.
Manateq CEO underlined the important role of national banks in economic development, deeming funding investors in these projects as significant step towards implementing and achieving the objective of the project which aimed at diversifying Qatar’s economy.
Mr. Tarek Fawzi said the MOU with the Logistics Committee is part of QIB’s efforts to pursue its leading role in contributing to the national economy by offering Islamic Financing Solutions to companies working on strategic economic projects in various sectors of the local economy. “We stand ready to offer our full support to the project by financing investors in logistics areas”, he added.