First meeting for Qatari industrial bank

The general assembly of the Qatari Bank for Industrial Development held its first meeting under the leadership of Sheikh Abdallah Bin Saud al-Thani, who said that the assembly discussed plans for the bank, and several problems.

He also said that the profits for distribution reached 9.57 million riyals, whereas the accounts at the local bank reached 1.8 million riyals. The capital and the total of the contributor's rights reached to 1.9 million riyals.

The contributors in the bank number eight: Qatar's government owns 50%, the Qatari national bank owns 20%, Qatar's company for insurance owns 10%, Qatar's company for navigation owns10%, Doha's bank owns 5%, the Qatari trade bank owns 2.5%, El-Ahli Bank in Qatar owns 1.5%, and the Gulf Company for Insurance owns 1%, where the permitted capital reaches to 200 million riyals. The industrial bank is the only one of its kind in Qatar.

The bank has financed 6 industrial projects since its inauguration at a cost of 13 million riyals.