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Monday 12 Oct 2015 - 12:40 Makkah mean time-29-12-1436
(Image from CPI Financial)
Doha, (IINA) - The Qatari Ministry of Economy and Commerce's Logistics Committee and Manateq (Economic Zones Company) have signed recently a memorandum of understanding (MoU) with Qatar Islamic Bank (QIB) to finance investors in the logistics areas in the south of the country, with terms of financing up to 10 years, according to CPI Financial.
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.
For his part, 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.
SM/IINA
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