DOHA - The Qatar Industrial Development Bank (QIIB) last year intensified efforts to manufacture camel robots now being used in camel races in place of child jockeys.
"Several tests were carried out successfully and it is expected that the robot will henceforth be used in all camel races, thus preserving this traditional sport...On this occasion, I congratulate the staff who helped the bank obtain the coveted patent that will pave the way for entry into high-tech industry," H E Sheikh Abdullah bin Saud Al Thani, chairman of QIIB, said in a statement in the bank's annual report for 2005.
Advisory services provided by the bank include a range of important services for supporting the private sector. The bank received many queries related to establishment of projects in Qatar.
"Our technical experts analyzed these queries and provided investors with practical advice and convened meetings with them to enhance mutual cooperation, removing impediments to investment and creating a competitive environment," said Abdullah bin Saud.
The bank continued with its study and research activities aimed at identifying projects based on innovative and cutting-edge technologies and for encouraging local as well as foreign investors to establish joint venture projects in the country.
In 2005, the bank set out a strategy for the evaluation of new projects and for follow-up of newly implemented ventures that are slated to commence production, such as the Qatar German Company for Medical Devices and Alshams Advanced Lighting Technologies. The latter is expected to go on stream by early next year.
The bank has maintained excellent relations with investors, ministries, corporations and other government bodies involved in industrial activity in the country.
It participated in conferences and seminars and continued to upgrade its computer systems to take advantage of the latest developments in information technology (IT), said the chairman.
On the human resource front, the bank provided significant employment opportunities to talented Qatari youth, specially women. A woman staff member has been appointed as head of financial and administrative affairs of the bank.
To improve efficiency and encourage the morale of the staff, a number of employees were nominated for training and development programme, he said.
The bank continues to play a key role in encouraging and financing small and medium enterprises (SMEs).
Last year, it granted both long and short-term loans to existing and new projects to the tune of QR32m.
© The Peninsula 2006
