Qatar’s Central Bank governor says the bank is establishing closer relations with China and South Korea in order to encourage currency exchange between the countries and the emirate.

A memorandum of understanding (MoU) signed between the countries will come into effect in April, when a centre is launched to handle currency exchange.  

Sheikh Abdulla bin Saoud al-Thani told delegates today at MEED’s Qatar Projects conference in Doha on 10 March, that Qatar also wants to “upgrade the relationship” and encourage the establishment of Islamic banks in China.