Mubasher: Sheikh Dr Khalid bin Thani, Chairman of the Board of Directors and Managing Director Qatar International Islamic Bank (QIIB), inaugurated the headquarters of Umnia Bank in Morocco.

Umnia Bank is a joint venture of QIIB, Moroccan lender Credit Immobilier et Hotelier (CIH Bank) and CDG, a Moroccan financial institution, according to a statement to the Qatari Stock Exchange (QSE).

"The Umnia Bank represents a continuation and strengthening of the strong partnership between Qatar and Morocco and today it will serve as an additional bridge that can make new economic partnerships that benefit the economies of both the countries,” Sheikh Thani said.

Thani added that today’s official opening of the new headquarter comes shortly after launching Umnia’s operations, which now has 12 branches, with plans to increase to 20 branches by the end of 2017.