Mubasher: Qatar Islamic Bank (QIB) on Sunday announced entering into a strategic partnership agreement with Ibn Ajayan Trading Group, allowing QIB to become the equipment dealer’s “preferred financing partner.”
Under the deal, Ibn Ajayan Trading Group’s customers who are interested in purchasing new equipment “are entitled” to use QIB’s attractive Fleet and Heavy Equipment financing scheme, QIB said in a statement.
The agreement was signed by Ibn Ajayan Trading Group CEO Ajayan Mahdi AlAhbabi, QIB assistant general manager of wholesale banking Mazen Al Thalathini at QIB’s headquarters in Doha, the bank added.
The financing scheme entails “a collection of products and services designed specifically for small and medium enterprises (SMEs),” according to the statement to the Qatar Stock Exchange (QSE).
QIB supports SMEs and their growth through its Aamaly programme, which contributes to diversifying Qatar’s economy in line with the Qatar National Vision 2030, one of the bank’s top official said.
Commenting on the new deal, QIB general manager of wholesale banking Tarek Fawzi stated that QIB was “pleased to be partnering with Ibn Ajayan Trading Group [as] this new relationship enhances the value of QIB’s Aamaly programme and makes it easier for SMEs to expand their businesses in the growing Qatar market.”
