The Qatar Financial Center Authority, the legal and tax arm of the Qatar Financial Centre, has signed a memorandum of understanding with Qatar Islamic Bank (the Bank), reinforcing their joint commitment to providing exceptional services to their clients.
Under the memorandum, the Qatar Financial Center and Qatar Islamic Bank will work together to facilitate access to distinguished banking solutions and services for companies registered with the Qatar Financial Center. The Qatar Financial Center will introduce the bank as a reliable partner to its new and existing corporate clients, in addition to publishing special banking offers through the centre’s marketing channels.
In return, the bank will provide smooth and reliable banking services to QFC companies, and will provide the necessary support to their employees, through the space that will be allocated to the bank within the QFC headquarters to facilitate the process of accessing services and save time and effort for customers.
Mr. Yousef Mohammed Al-Jaidah, CEO of the Qatar Financial Center, stressed the importance of this partnership, saying: “We are pleased to cooperate with a distinguished financial institution to enhance the level of banking services for our customers, and this cooperation with Qatar Islamic Bank confirms our commitment to simplifying operations and enabling companies registered on the Qatar Financial Center platform.” It enables easy access to services, which contributes to supporting its operations and its path towards growth and success.”
For his part, Mr. Tariq Youssef Fawzi, General Manager of the Corporate Banking Group at the Bank, said: “We are pleased to cooperate with the Qatar Financial Center to provide access to banking services solutions for companies registered with it. The Bank is committed to providing an exceptional banking experience, while providing seamless access to services for all its customers.” Through modern digital solutions that efficiently meet their needs.”
It should be noted that the Qatar Financial Center was established to operate within the country, as it provides a distinguished business platform for companies wishing to establish and carry out their activities in Qatar or the region in general. The QFC also has a special legal and regulatory framework, a tax system, and a well-established business environment that allows foreign ownership of up to 100%, repatriation of profits by 100%, and a corporate tax at a competitive rate of 10% on profits from local sources.
As for Qatar Islamic Bank (QIB), which was established in 1982, it is an Islamic financial institution and leads the banking sector in Qatar as the second largest bank in the country. It offers a variety of banking products and services that meet the needs of individuals and companies.