QFC and TKBB Joın Forces To Support The Development Of Türkiye and Qatar's Fınancıal Sector

The MoU aims to promote the parties' common interests through mutually beneficial cooperation between their member organisations. As per the agreement, the QFCA and TKBB will work together to organise common platforms, summits, forums, conferences, seminars, webinars and other events related to the developments in Participation banking and finance.

The partnership also sets out to organise joint training and exchange programmes, facilitate data and knowledge sharing, as well as contribute to direct correspondent relations between the Participation Banks of Türkiye and Qatar.

Speaking about the MoU, Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC, said: "As an international business platform, the QFC has good and longstanding relations with Türkiye, forged through significant partnerships with Turkish organisations and companies. We are proud to enter this partnership with the Participation Banks Association of Türkiye, which bolsters our efforts in developing the local financial industry and positioning Qatar as a leading financial hub. More importantly, this MoU strengthens the ties between Qatar and Türkiye in the financial sector."

Osman Çelik, Chairman of the Board of Directors, TKBB, said “We are very pleased to be together at the signing ceremony of the Memorandum of Understanding (MoU) between the QFC and the TKBB. I hope that this agreement will significantly contribute to the development of the finance and banking sector, the economies of both countries and our international stakeholders.”

This agreement will lead to many joint projects between the two countries, Çelik added: “Diversification of financial instruments in particular, as well as increasing the exchange of training and technical consultancy will provide good opportunities for both parties. There are important areas of cooperation between both Qatar and Türkiye, especially in the areas of digitalisation and fintech solutions, which both countries are actively developing. I believe that the mutual projects to be carried out jointly by TKBB and QFC in this regard will make a tremendous contribution to the development of both countries and the global Islamic finance industry"

Emphasizing the importance that Istanbul Finance Centre (IFC) Çelik said, it is obvious that the IFC which is on its way to becoming a global financial centre, will play an important role in increasing the share of participation finance in the sector. In addition to the other countries with which TKBB cooperates in the international arena, the activities to be carried out in cooperation with QFC will provide a significant contribution to IFC's position as a global financial centre.

The QFCA-TKBB partnership aspires to stimulate economic growth in both countries through collaborative initiatives that promote and develop participation banking and establish dynamic and competitive financial ecosystems.