Umnia Bank to engage more with Morrocan economy, says Sheikh Khalid

Umnia Bank chairman expresses satisfaction at the performance of the QIIB-led joint venture bank in MoroccoUmnia Bank chairman Sheikh Dr Khalid bin Thani bin Abdullah al-Thani, also chairman and managing director of QIIB, expressed satisfaction at the performance of the QIIB-led joint venture bank in Morocco and said it will engage more with various sectors of the Kingdom’s economy.   He was presiding over the meeting of the Umnia Bank board of directors, which was attended by Ahmed Rahou, vice-chairman and head of CIH Bank among other directors. A QIIB release said the meeting discussed various matters related to Umnia Bank and its business performance lately; its plans for the coming period and the developments witnessed by the overall banking sector in Morocco.Umnia Bank board of directors also discussed the bank’s expansion in various Moroccan cities and enhancing its activities to meet customer requirements, both retail and corporate. Sheikh Dr Khalid expressed satisfaction at Umnia Bank’s business model and customers’ interest in various services being provided.This indicates that Umnia Bank has gained the confidence of people of Morocco and the business sector takes a positive view of the bank. “We seek to increase the interaction of Umnia Bank (even further) with various economic sectors in the Kingdom of Morocco for the benefit of one and all,” Sheikh Dr Khalid said. Umnia Bank reflects the “strong relations” between Qatar and Morocco in various fields and “we are pleased to contribute to the enhancement of these relations, where the banking sector is deemed one of the most important through which ties are strengthened between different business sectors.”He urged the bank’s executive management to continue its efforts and focus on responding to the market demands and customers’ expectations, while stressing on the need for innovation and creativity in developing Islamic products and instruments suitable for various customer segments.These should be done in a way that expands customer base, increases the bank’s contribution to local development and increases returns to shareholders.Sheikh Dr Khalid also spoke about the bank’s focus on expatriate Moroccans in Qatar and in other countries and said Umnia offers them a “package of high quality banking facilities and services that meet their needs in their home country.”Umnia Bank was officially launched in Morocco in July 2017. Now, the bank has 20 branches in various Moroccan cities and has plans to expand and cover all major Moroccan cities in near future.Umnia Bank is a partnership among QIIB (40%), CIH (40%) and CDG (20%).