The Middle East and Africa’s (MEA) largest financial institution QNB Group has signed a memorandum of understanding (MoU) with Russian asset manager VTB Capital Investments to launch Qatar Fund and Russian Fund to attract foreign capital into both markets.
The MoU aims to expand business between the two organizations by allowing them to collaborate on investment management and consulting services in the debt, equity, and real estate markets. It is also intended to build a selection of offerings for international investors.
The agreement was signed at the 24th St. Petersburg International Economic Forum (SPIEF). QNB Group Executive General Manager and Group Chief Business Officer Mr. Yousef Al Neama and VTB Capital Investments CEO Vladimir Potapov have signed the commercial partnership agreement. Other top senior management representatives attended the ceremony from both sides.
“We strive to create the most attractive opportunities that a relevant to the needs of our clients, which includes the diversification of investments by geography, and we expect a fund which focusses on investments in the Qatari economy will be extremely popular. We also aim to use our expertise in the debt and equity capital and real estate markets in Russia to attract international financing for the development of our country’s economy. I am sure that our cooperation with QNB will benefit both the Russian economy, the emerging class of Russian investors, and the retail investment market of our country as a whole.”
According to the statement, “QNB enjoys a reputable Asset and Wealth Management expertise, and its team of professionals had successfully worked to develop a leading platform of investment instruments covering equity, fixed income, structured products, real estate, and commodity investments.”
QNB Group’s presence through its subsidiaries and associate firms expands to more than 31 countries across three continents providing a comprehensive range of advanced products and services.