QIB funds taxi project financing

QIB funds taxi project financing

Qatari bank backs Al Million with Islamic funding package.

Qatar Islamic Bank (QIB) has agreed an Islamic project financing with Al Million Services Trading and Contracting Co to fund its purchase and operation of 500 new taxis.

Announcing the deal, QIB acting CEO Ahmad Meshari said: “The financing agreement with Al Million is part of QIB’s strategy that aims to support national companies and provide them with appropriate funding for growth.

“Doing so achieves common goals and contributes to the national economy, noting that the Qatari transport sector is witnessing accelerated growth; as a consequence, this sector naturally attracts high levels of funding.”