Qatar Development Bank

Qatar Development Bank
Public
Industry Bank and Finance
Founded 1997
Headquarters Grand Hamad Street
P.O.Box: 22789
Doha, Qatar
Key people
 Mansour Ibrahim Al- Mahmoud, CEO
Sheikh Abdullah Bin Saud Al-Thani, Chairman
Website www.qdb.qa

Qatar Development Bank (QDB), previously known as Qatar Industrial Development Bank, is a bank in Qatar offering financial services, banking and loans to the development of the industrial, tourism, educational, health care, agricultural, animal resources and fisheries sectors of the Qatari economy. It was created in 1997 by Emiri Decree No. 14 with the objective of diversifying Qatar's economy by promoting developmental projects.[1]

Joint ventures

Qatar Solar Technologies

Along with Qatar Foundation and SolarWorld, QDB helped establish Qatar Solar Technologies (QSTec), an alternative energy company, in 2010.[2]

Qatar Business Incubation Centre

The Qatar Business Incubation Centre (QBIC) was established in a joint venture by QDB and the Social Development Centre in 2010, and officially started operating in March 2014. As the most extensive mixed-use incubator facility in the Middle East, its aim is to promote companies and finance business ideas. All of the centre's facilities are split up into stages and spread across 20,000 sq meters.[3]

The centre has signed many agreements with global companies to promote investments and swap knowledge; for example, in 2015, the centre signed a memorandum of understanding (MOU) with Microsoft Qatar in order to encourage entrepreneurial ventures in Qatar's technology industry.[4]

References

  1. ↑ "Annual Report 2009" (PDF). Qatar Development Bank. 2009. p. 14. Retrieved 22 September 2017.
  2. ↑ Amanda H. Miller (8 June 2012). "Qatar Solar Technologies get unprecedented $1 billion in single-source financing". Clean Energy Authority. Retrieved 11 February 2016.
  3. ↑ "Qatar supports entrepreneurs and start-ups". Oxford Business Group. Retrieved 22 September 2017.
  4. ↑ "Q Magazine US (issue 3)" (PDF). gco.gov.qa. June 2017. p. 14. Retrieved 22 September 2017.


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