Emirates Islamic Bank (EIB), one of the leading Islamic financial institutions in the region, recently signed a USD 10 million agreement with Qatar’s First Finance Company (FFC). The three year agreement was signed in Qatar by Mr. Abdulla Abdulkarim Showaiter, General Manager Corporate & Investment Banking, Emirates Islamic Bank and Mr Abdulrazaq Al Siddiqi, Director and Deputy General Manager of FFC.
This new agreement will give EIB an opportunity to explore and develop the Qatar consumer financing market. Speaking about the agreement, Mr Showaiter said “It is a step reflecting our understanding of the requirements market requirements as well as the growth and development strategies of both institutions.”
The agreement will also provide a significant boost to FFC’s operating capital and enhance its capacity to deliver new financial services. FFC, which commenced operations five years ago, offers various customer-friendly Islamic financing facilities. Their vision for making Islamic finance easily available to the general public blends in with the vision of Emirates Islamic Bank, and this new partnership will further enhance their common goal.
Issued on behalf of Emirates Bank by Tamra C2. For further information please contact Suzan Kazzi on Tel. (9714) 2951177; Fax: (9714) 2951188; e-mail: [email protected]
