CAG Funds’s Director of International Operations, Mr. Tarek Choufani and the Chairman of the board of Tunisia Economic City, H.R.H. Prince Fahed bin Mugrin Bin Abdul Aziz, and the President and Founder of the $180 billion Tunisia Economic City (TEC) project, Dr. Riadh Toukabri, received a delegation from CAG Funds’s partner IZP Group (the holding company of Globebill) – the largest crossborder payment settlement platform in China and Asia. Among the delegation from IZP Technologies Group were its chairman Mr. Luo Feng and CEO Huang Suzhi.

During the visit, an MOU was signed to participate and contribute in the development of TEC in the ecommerce, payment settlement, credit card issuance, exhibition center and logistics fields.

Furthermore, CAG Funds and HRH Prince Fahed signed an agreement with IZP to form in Bahrain the first cooperative commercial bank and payment settlement center to facilitate commerce and trade between MENA and China. The bank will have the participation of high-profile partners consisting of the top 5 largest Chinese state-owned banks and financial institutions, also listed in the Fortune 500.