IslamicFinance.de

Qatar's Islamic lender QIIB achieved increase and growth in its various banking activities over the past year. The AGM approved the Board of Directors' proposal to distribute 40% cash dividends of the nominal value per share which is equivalent to QR4 per share. Besides, the bank is expecting approval from authorities in Morocco for its joint venture by the end of third quarter this year. The lender had signed a joint venture agreement with CIH Bank (Credit Immobilier et Hotelier), a Moroccan bank, for the establishment of a bank in Morocco in December last year. Under the agreement, QIIB will have 40% stake in the proposed bank.