QIB Announces MoU with Export-Import Bank of Korea (KEXIM)

Doha, December 01 (QNA) - Qatar Islamic Bank (QIB) has signed a Memorandum of Understanding (MoU) with the Export-Import Bank of Korea (KEXIM), reflecting the growing trade and investment flows between Qatar and South Korea. The MoU was signed by QIB Managing Director, Abdullatif Bin Abdullah AI Mahmoud, and the Executive Director and Board Member, the Export-Import Bank of Korea Ki-sub Nam. The signing ceremony was attended by senior QIB executives and KEXIM delegation, Qatar Exchange website reported (QIB) in a statement released here on Thursday. According to the statement, the agreement aims to provide companies in both countries with competitive advantage through the mutual exchange of information and project cooperation, especially in sectors such as oil and gas, petrochemicals, infrastructure developments, renewable energy and transportation. The agreement will help support and finance the significant trade flows of capital and goods between the two countries, and underlines the importance of Qatar as a trade partner for Korea, and vice-versa. In addition to the exchange of relevant information, both QIB and KEXIM will seek to propose appropriate individual projects in which the two parties might most effectively use their respective resources for mutual benefit. Further, in a groundbreaking move, both parties have also agreed to consider accepting trainees or secondments of staff. Abdullatif Bin Abdullah AI Mahmoud, said, "Korea is a highly developed, industrialised nation and KEXIM a well-respected and influential institution with huge domestic and international experience. (QNA)