A Memorandum of Understanding (MoU) was signed between Turkey's Presidential Finance Office and the Qatar Finance Center, said a statement.
The MoU was signed by Yusuf Muhammed Al-Jaida, Qatar Finance Center's CEO; and Goksel Asan, the head of Turkey's Presidential Finance Office; in the presence of Turkish President Recep Tayyip Erdogan and Qatari Emir Sheikh Tamim bin Hamad Al Thani.
The statement issued by Turkey's Presidential Finance Office said the MoU is aimed at strengthening economic and financial ties between the two countries.
"We think Istanbul has an advantageous position in areas of FinTech and participation finance, considering these two areas as priority," Asan said.
The signing of the MoU is an important step taken to increase mutual cooperation, he added.
Al-Jaida, for his part, said a part of the Qatar Finance Center's new growth strategy is to establish state-level partnerships, providing access to the financial structures of developing countries.
"This MoU […] is an important step in line with this strategy," he said.
Reporting by Abdulselam Durdak
Writing by Aysu Bicer