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22-03-23

QFC, TKBB Sign MoU to Promote Development of Financial Sector in Qatar, Türkiye

(MENAFN) Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, and Participation Banks Association of Türkiye (TKBB), a public institution with a mandate to represent the participation banking sector both nationally and internationally, recently signed a Memorandum of Understanding (MoU) to support the development of the financial sector in Türkiye and Qatar. The MoU aims to promote the parties' common interests through mutually beneficial cooperation between their member organisations.

Under the agreement, QFC and TKBB will work together to organise common platforms, summits, forums, conferences, seminars, webinars and other events related to the developments in participation banking and finance. This partnership will help in diversifying financial instruments and increasing the exchange of training and technical consultancy, providing good opportunities for both parties.

Chief Executive Officer of QFC, Yousuf Mohamed Al Jaida, expressed his pleasure at the partnership, highlighting the significance of the QFC's long-standing relations with Türkiye forged through significant partnerships with Turkish organisations and companies. Al Jaida emphasised the importance of this partnership in developing the local financial industry and positioning Qatar as a leading financial hub. He noted that the MoU strengthens the ties between Qatar and Türkiye in the financial sector.

Chairman of the Board of Directors of TKBB, Osman Çelik, also expressed his pleasure at the signing of the MoU, highlighting the potential areas of cooperation between the two countries, especially in digitalisation and fintech solutions. He also noted that the Istanbul Finance Centre is on its way to becoming a global financial centre and will play an important role in increasing the share of participation finance in the financial sector.

QFC is an international business platform that provides a wide range of financial and business services to companies operating in Qatar and the region. The centre is committed to supporting the development of the local financial industry and positioning Qatar as a leading financial hub.

TKBB is a public institution mandated to represent the participation banking sector both nationally and internationally. The association is committed to promoting the growth and development of the participation banking sector in Türkiye and increasing its share in the financial sector.

In conclusion, the partnership between QFC and TKBB is a significant step towards promoting the growth and development of the financial sector in Qatar and Türkiye. Through mutually beneficial cooperation, the parties will work together to organise events related to participation banking and finance, diversifying financial instruments, and increasing the exchange of training and technical consultancy. The MoU strengthens the ties between the two countries in the financial sector and highlights their commitment to developing and positioning themselves as leading financial hubs.
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