QIIB, CIH to set up bank in Morocco
DUBAI, December 24, 2015
Qatar International Islamic Bank (QIIB) has signed an agreement with Moroccan lender Credit Immobilier et Hotelier S A (CIH Bank) to set up a bank in Morocco, QIIB said on Thursday.
The joint venture is part of QIIB's strategy to pursue overseas investments and diversity its portfolio, the lender said in a bourse statement.
QIIB will take a 40 per cent stake in the new bank, which is expected to launch in coming months after necessary approvals. - Reuters
