Qatar Islamic Bank (QIB) has extended support to Cyprus in preparing a framework and legislation to introduce Islamic financial tools and instruments such as sukuk (Islamic bonds) in the island-nation, which is a member of the European Union and Eurozone.
The agreement follows a meeting between the president of Cyprus Nicos Anastasiades and QIB chairman Sheikh Jassim bin Hamad bin Jassim bin Jaber Al Thani, according to thepeninsulaqatar.com.
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The meeting was attended among others by the Minister of Energy, Mohamed bin Saleh al-Sada, along with his Cypriot counterpart Yiorgos Lakkotrypis.
"Follow-up meetings have been agreed, scheduled to be held in Cyprus in the near future, for both parties to discuss further all identified opportunities," QIB said in a release.
