Morocco’s Attijariwafa Bank and Qatar National Bank (QNB) have signed an agreement to boost investment flows between both financial institutions.

The signing, which took place in Doha on Tuesday, will focus on mutual business ventures in various areas such as capital markets, Trade Finance and investment flows between the world’s strongest bank and Morocco’s first financial and banking group, 4-Traders reports.

“At QNB Group, we always look forward to have the right partnership with the right organizations; Attijariwafa Bank is one of those in Africa”. Mr. Abdulla Mubarak Al-Khalifa, the general manager, group corporate and institutions banking, said while signing for QNB.

He expressed hopes that the agreement foster successful business relations and productive cooperation for both institutions, especially with QNB’s current expansion plans.

QNB Group has continued to expand its operations in Africa – with branches in Egypt, Sudan and Tunisia – the Qatari financial institution is hopes to widen its network through investments in the rest of the Middle East and North African (MENA) region.

General Manager of Attijariwafa bank, Mr. Boubker Jai, who signed for his bank, said the bank was happy to partner with the Middle Eastern Bank, stating his confidence that the MoU will be a win-win situation for both organizations.

According to Mr Jai, the agreement will also enable Attijariwafa and QNB’s clients to be mutually better supported in all ccountries where the two firms are in operation – Europe, Africa and Asia.

Established in 1904, Attijariwafa bank group provides a wide range of financial services through specialized subsidiaries such as insurance, consumer credit, mortgage, money transfer and investment banking,  boasting of a 6.2 million customer-base, serviced by more than 15,000 employees.