Morocco and Saudi Arabia are considering the creation of a joint fund to support medium and small companies for export and investment in the two countries, with the aim of increasing the volume of bilateral trade, said the President of the Moroccan-Saudi Business Council, Khalid Ben Jelloun.
The fund is expected to be co-founded by the public and private sectors of the two countries, including Moroccan banks, led by Attijariwafa Bank, Banque Populaire, Crédit Agricole du Maroc, and Bank of Africa.
On the Saudi side, the Saudi Investment Bank and the Islamic Corporation for the Development of the Private Sector (ICD), a subsidiary of the Islamic Development Bank Group, will contribute to the capital of the new entity.
Source (Al-Arab Newspaper of London, Edited)
