Qatar’s network, mobile innovation to play key role in development

25/11/2014 05:56 AST

Qatar’s solid investments in network and mobile innovation is expected to play a key role in transforming the country’s economic and financial sectors, Ooredoo chairman Sheikh Abdullah bin Mohamed bin Saud al-Thani said.

Speaking before participants of the Euromoney Qatar Conference yesterday at the Ritz-Carlton Hotel in Doha, Sheikh Abdullah spoke of Qatar’s sustained and strategic investment in network infrastructure.

He said the country’s investment in a nationwide communication infrastructure, “championed and led by Ooredoo,” was set to be “a vital economic asset.”

“Qatar, with its strong programme of investment in networks and mobile innovation, is well-positioned to play a leadership role in transforming both the finance sector and society as a whole,” Sheikh Abdullah said.

He added, “Ooredoo is striving to make our nation an ideal hub for business, creativity, and innovation, and we are already enabling businesses in Qatar to achieve their objectives, through the provision of 4G, fibre and enterprise services.”

During the event, QNB acting Group CEO and Commercial Bank CEO Abdulla al-Raisi highlighted the robust range of national and international assets under management by Qatari banks.

Also, Sheikha Hanadi bint Nasser bin Khaled al-Thani elaborated on her work as founder and chairperson of Amwal, Qatar’s leading asset management group.

International perspective was provided by experts from Gulf One Investment Bank and by Sarkis Yoghourtdjian, assistant director, Banking Supervision and Regulation at the Federal Reserve System, who pointed out that the 2008 crisis was predominantly driven by a failure of global governance, and outlined some of the related structural challenges the global economy is still facing.

Subject matter experts at the event all highlighted the need for greater global co-operation and discussion to ensure continued financial stability. The conference was co-hosted by the Qatar Central Bank and was set to be concluded today.

Gulf Times