2 December 2024, Doha – Qatar: Qatar Financial Centre Authority (QFCA), the legal and tax arm of the Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, has signed a Memorandum of Understanding (MoU) with Qatar Islamic Bank (QIB), Qatar’s leading digital bank. The collaboration aims to further their shared commitment to delivering exceptional service to their clients.

Under the agreement, QFC and QIB will work together to simplify access to corporate banking solutions for QFC-licensed firms. QFC will promote QIB as a banking partner to new and existing firms while also supporting the distribution of tailored banking offers through its marketing channels. In return, QIB will facilitate seamless corporate banking services for QFC firms, provide immediate support for their employees, and offer on-site services at QFC premises to enhance accessibility and convenience.

Mr. Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC, highlighted the importance of the partnership: “We are delighted to partner with a distinguished financial institution to elevate the banking experience of our firms and their employees. This collaboration with Qatar Islamic Bank underscores our commitment to streamlining access to services for businesses on our platform to support their operations and journey to growth and success.”

Mr. Tarek Y. Fawzi, Chief Wholesale Banking Officer at QIB said “We are pleased to collaborate with QFC to offer and provide access to the various corporate banking solutions for QFC-licensed firms. QIB is committed to delivering exceptional banking experience and enhancing accessibility and convenience to all its customers with up-to-date digital solutions that will make their business needs more accessible, simple and efficient.”

This MoU highlights both parties' commitment to supporting Qatar’s business environment by providing efficient banking solutions tailored to meet the diverse needs of business entities, fostering growth in Qatar’s dynamic economy.