Listed companies earmark QR597m for social activities

13/03/2011 00:00 AST

Some 31 shareholding companies have earmarked a whopping QR597m for social and sport fund of the country in 2010, a remarkable increase of 31.5 percent in the last year comparing to the previous year where some QR409.3m were contributed by those companies for such activities, said a local daily.

The Industries Qatar (IQ) is on top of the list with QR134m alloted which is 2.5 percent of the total net profit of the company which soared to QR5.6bn in 2010.

The banking sector has taken the lion share of the contribution with the Qatar National Bank (QNB) alone contributing QR 118m. The Commercial Bank of Qatar (CBQ), Al Rayan Bank, Qatar Islamic Bank (QIB), Doha Bank and Al Ahli Bank granted QR38m, QR34.5m, QR33.36m, QR26.35m and QR10.31m respectively.

In addition, Qtel, Qatar Electricity and Water Company and Woqod have given QR51.5m, QR28.9m and QR27.5m respectively for the country’s social and sport activities.


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