Qatari Shareholding Company with QR100mn capital

 

Doha, June 24: In a significant development a Qatari share holding company with a capital of QR100mn is to be set up for investing in and promoting educational schemes, according to a statement made by the Chief Executive Officer (CEO) of the Qatar International Islamic bank (QIIB), Mr.Abdul Basit A. Al-Shaibei.

The company to be known as the "Group One Education" is being established in accordance with the Decision No.156 of 2008 issued by the Acting Minister of Economy and Commerce HE Yousef Hussain Kamal, also the Minister of Finance.

It is the outcome of the meeting of minds among a group of entrepreneurs who firmly believe in the need to focus on the development of education as the first and foremost pre-requisite for the nation's development. Investing in education is investment in future. Education is a key driver for national development.

“The license for the establishment of the firm has come at a very opportune moment” Mr.Al-Shaibei said.

The Government of Qatar is in close interaction with public and private institutions to forge the development of education in keeping with the requirements of the country's economy and to provide adequate venues to the young and energetic to acquire the knowledge and know-how required in various fields wherein they could be gainfully employed and serve the nation as bright citizens.

Among the schemes to be taken up by the new firm is establishing of institutes for vocational studies and other specialised institutions.

“This firm will serve as a pioneering model for diverse activities in education,” Mr. Mr.Abdul Basit A. Al-Shaibei said.

He further emphasised the point that the firm would leave no stone unturned in achieving good quality education and making available all state of the art tools and facility to reach the desired goals.

“The Qatar International Islamic Bank is extending full support to this scheme in keeping with its long term strategy for development in various fields. QIIB has always been committed to the society. It will remain so and will wholeheartedly support initiatives in education and manpower development for national growth. Various QIIB schemes to encourage students of colleges and universities in Qatar are a case in point,” Mr.Abdul Basit A. Al-Shaibei said.