Mubasher-Qatar: Qatar International Islamic Bank (QIIB) has signed an agreement with Moroccan lender Credit Immobilier et Hotelier S.A. to set up a lender in Morocco.
The Qatari 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% stake in the new bank, which is expected to launch in coming months after necessary approvals.
