The Qatar Financial Centre Authority (QFCA) has signed a memorandum of understanding (MoU) with Casablanca Finance City Authority (CFCA).
The strategic partnership establishes a collaborative framework between the two entities, both members of the World Alliance of International Financial Centres (WAIFC), to bolster their roles as regional financial hubs and promote the economic development and business-friendly environments in both Qatar and Morocco.
This MoU marks a significant step in the collaborative relationship between Qatar and Morocco, highlighting their shared commitment to establishing a new standard for regional cooperation and building a resilient, innovative, and globally competitive financial ecosystem.
The MoU outlines several core objectives, including fostering development and sharing best practices in financial technology, private banking and sports, to drive innovation and diversification; attracting more financial institutions, multinational corporations, and professional services providers to both financial centres; and exchanging information on innovation trends, products, services, and relevant legislation in each jurisdiction.
Additionally, cross-border business engagement will be enhanced through regular delegations, further strengthening ties between the two financial communities.
The MoU also articulates joint initiatives in financial literacy and professional trainings designed to cultivate a talent pool ready for the evolving financial sector.
"This partnership with CFCA strengthens our efforts to drive the growth and development of the financial sector while building an interconnected, innovative, and future-ready framework across the region," said QFCA chief executive officer Yousuf Mohamed al-Jaida.
Joining forces with CFCA enhances its ability to attract global investment and creates opportunities for shared growth and knowledge exchange, fostering a stronger financial landscape in both Qatar and Morocco, according to him.
Said Ibrahimi, chief executive officer, CFC, said this MoU is a milestone for both the entities, forging a vital link between Africa and the Middle East.
"Together, we’re not just collaborating; we’re creating a bridge that empowers businesses and drives transformative growth across our regions," he said.