Today, Qatar boasts the world’s fastest-growing economy. Overall nominal GDP

growth for 2009 is estimated to be 9.5%.For this year, the Economist IntelligenceUnit (EIU) is forecasting an incredible 23.3%rise in growth, expected to scale back to astill very strong 12.7% for 2011.

And there’s more. Export revenuegrowth is predicted to be on average 52%for this year and next, driven by the com-ing on stream of new LNG, GTL and oilproduction.

The country’s budget surplus, countingLNG revenues, will widen to 22.2% ofGDP this year, says the EIU. Finally,according to the CIA Factbook, at$121,400, Qatar enjoys the second high-est GDP per capita in the world.

Although it is undeniable that hydrocar-bon resources, and in particular naturalgas, have a lot to do with these remark-able figures, the relative immunity of thecountry to the global financial crisis, cou-pled with the sustainable development ofQatar’s hydrocarbon and non-oil sectors,are testimony to something larger at work– a guiding vision that continues to suc-cessfully combine gradual developmentwith a lasting respect for tradition.

Founded by the Emir of Qatar, HHSheikh Hamad bin Khalifa Al-Thani, thisvision was encapsulated in the QatarNational Vision 2030 (QNV 2030). Thisnational strategy differs from other long-term national plans in that it stresses themodernization and preservation of tradi-tions, while following a path of managedgrowth for sustainable development.

Although Qatar is promoting economicdiversification, QNV 2030 stresses aboveall the strengthening of small business andthe creation of knowledge. This is indica-tive of a prudent and holistic approachthat has contributed to bringing the coun-try to its current economic heights.

The Emir has said, “We will work on

pursuing our development efforts in thesocial, scientific and urban fields as wellas in the sphere of culture, art, and otheraspects of human activity that go hand inhand with continuous progress in theeconomy.”

Dr. Ibrahim B. Ibrahim, secretary gen-eral of the General Secretariat forDevelopment Planning, adds, “QNV 2030aims at transforming Qatar into anadvanced country by 2030, capable ofsustaining its own development and pro-viding a high standard of living for all itspeople for generations to come”.

THE PILLARS OF SUSTAINABILITYAt the helm of the Qatar Foundation forEducation, Science and CommunityDevelopment, HH Sheikha Mozah bint NasserAl-Missned, who was once named the 79thMost Influential Woman in the World byForbes Magazine, helped the country reachanother milestone last year with the open-ing of the Qatar Science & Technology Park.Her commitment to generating a culture ofquality in Qatar through education and socialreform is having a far-reaching impact onthe country and the region, and seamlesslycomplements the national vision of the Emir.

Sheikha Mozah comments, “Educationcan become a global force to build strongcivic societies across the world in which cit-izens communicate and share their commonhuman experiences. It can be the impetusthat redirects the globalization process fromits current economic objective to a morehumane and moral agenda.” ■

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qatarA BROADER PROGRESS

While Qatar enjoys unprecendented economic growth, the country is also championing tradition

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The man behind the vision: The Emir HH Sheikh Hamad bin Khalifa Al-Thani has helped turn Qatar into the world’s fastest-growing country

Part one

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Islamic finance has been growing at twicethe rate of conventional financing becauseof the increasing range of financial instru-ments now more readily available.

Enter QInvest, Qatar’s first and lead-ing Islamic investment bank. With autho-rized capital of $1bn and paid up capitalof $750m and growing, the bank is mak-ing a huge impact in Qatarand beyond. While QInvestnow focuses on doing businessin the Middle East, Malaysia,South Asia, Africa, Indonesiaand Turkey, the firm is wellpositioned to look at investmentopportunities in Europe, theU.S., and other parts of Asia.

QInvest is organized aroundfour main business lines: invest-ment management, investment banking,wealth management and brokerage, cur-rently being developed. The bank createsworld-class products and services, andbenchmarks itself against both Islamicand conventional financial institutions.

With a 45% stake in the bank, QatarIslamic Bank (QIB) lends it credibilityin the marketplace. Other major investorsacross the Gulf region, including major

blue-chip companies, family offers andprivate institutions, own the remainder.

CEO Shahzad Shahbaz describes thetwo main strategic investments made toexpand. “The first was our 47% invest-ment in Panmure Gordon, a 130-year oldBritish brokerage firm. Their expertiseis key as we build the pan-regional bro-

kerage business. There’s alsoour 25% investment in Ambit,one of India’s top investmentbanking firms. This gives ourclients access to the Indianmarket, in which there is anincreasing interest,” he says.

Last September QInvestand Fortis Bank Nederlandclosed a first round of $100mfinancing for their Shari’a

compliant mezzanine shipping fund.“Investor demand for the product hasbeen considerable, reflecting interestfrom both Shari’a and conventionalinvestors alike who seek to diversify theirportfolios,” Shahzad added.

As for the near future, QInvest expectsto launch a regional private equity fundfocusing on growth companies in theMENA region.

QINVEST: CHAMPIONING ISLAMIC FINANCE

Since its establishment in 1964, QatarInsurance Company (QIC) has domi-

nated the insurance market. QIC is the old-est and largest insurance company in Qatarand commands a significant market sharein one of the world’s fastest-growing coun-tries. The group also has expanded inter-nationally, and now comprisesQIC Doha and QIC Internation-al. It has recently establisheda reinsurance arm, Q-Re LLC,in Doha which intends toexpand its business throughoutthe MENASA region.

Khalifa Al-Subaey, grouppresident and CEO, says that“besides the skilled humanresources found at QIC, thereis the company’s financialstrength. The international rein-surance companies that back QIC are glob-al leaders. Any corporation coming fromoutside will not look any further.”

Al-Subaey, who has been responsible forimplementing the vision of the company overthe last 20 years, says QIC has been focus-ing not only on building the product line inthe home market, but significantly expand-

ing abroad. More than 50% of the compa-ny’s revenues now come from its internationaloperations. In the last decade, QIC has setup offices throughout the GCC and in Malta,which the company plans to use as a spring-board for servicing the Mediterranean area.

One of the key initiatives in the home mar-ket has been the provision of healthinsurance. QIC aims to improvethe quality of healthcare and pro-vide access to local and global ser-vices and solutions, and providesinsurance cover to over 85,000people in Qatar. As part of its strongfoothold in the GCC, QIC has alsoestablished a solid Islamic insur-ance (Takaful) company, asShari’ah-compliant products aregaining considerable popularity.

In terms of financial strength,standards and services, QIC ranks amongthe best not only in the nation but alsoregionally. QIC is keenly aware that diver-sification is key in an ever-evolving market,and is establishing a medical insurance com-pany known as Medical Life. “We feel thatmedical insurance is becoming part of every-day life for the people here,” he says. ■

ACCESS TO THE BEST CAREQatar Insurance Company is a leading regional insurer

Khalifa A. Al-SubaeyGroup Presidentand CEO of QIC

Shahzad ShahbazCEO of QInvest

MEEZA, a Qatar Foundation jointventure, is a managed IT services andsolutions provider offering a widerange of services to clients, from cre-ating and managing IT infrastructureto providing technology consulting.Aiming to help accelerate the growthof Qatar through the provision of world-class IT infrastructure, MEEZA’soffering includes managed servicesand data center services, Software-as-a-Service, consulting services andworkplace services.

MEEZA Data Centers, known as M-VAULT, possess managed storage, net-work and security systems as well asdisaster recovery capabilities. MEEZAhas also established a centralizedCommand & Control Center that mon-itors and optimizes services to theirclients 24/7. Additional data centers arebeing established in Qatar. Through thesemultiple, interconnected and geograph-ically diverse data centers, MEEZA isuniquely positioned to offer cloud ser-vices to clients across the region.

MEEZA is establishing a channel ofvalue-added resellers to meet the signif-

icant need for quality IT services andsolutions across the small and mediumbusiness sector. The MEEZA channelwill resell MEEZA’s Software-as-a-Service portfolio of products and sharein the rewards from a growing demandfor these products across the region.

MEEZA works with its clients to ful-ly understand their specific IT challengesand offer cost-effective IT services to helpthem focus on their core business andscale rapidly. Delivering best-in-class ITsecurity levels, MEEZA helps clientsminimize business risk, reduce IT cap-ital expenditure and speed up time tomarket for new initiatives.

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DELIVERING WORLD-CLASS IT SOLUTIONS

MEEZA is a regional leader in thecreation of high quality IT solutions

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Asubsidiary of Qatar Foundation forEducation, Science & Community

Development, DOHALAND was launchedin March 2009 to play a leading role inQatar’s urban development. Its signatureproject, Musheireb, involves the redevel-opment of the center of Doha, a 35-hectaresite of mixed-use space that combines ancientculture with modern technology through anew Qatari architectural language.

DOHALAND lays its foundation in Qatar'sNational Vision 2030. The company’s visionand mission is based on the Qatari consti-tution and guidelines set by the Emir HHSheikh Hamad bin Khalifa Al Thani andHH Sheikha Mozah bint Nasser Al Missned,which seeks to combine modern life withQatari values and culture, and connect andbalance the old and the new.

HH Sheikha Mozah bint Nasser AlMissned identified a significant gap in thearchitectural history of Qatar. For a con-siderable amount of time, development in

Doha became almost indistinguishable fromthat of the rest of the world, tending towardsisolated land use, urban sprawl and heavyreliance on car transport.

“Skyscrapers and isolated living com-pounds are not the communities we aspireto in Doha. So we decided to revive ourpast, rediscover our traditions, and regen-erate the communities we have lost in thisglobalized world. We will do this by com-bining the spirit and esthetic of yester-day, with environmentallyfriendly and sustainable know-how of tomorrow,” said Eng.Issa M. Al Mohannadi, CEOof DOHALAND.

DOHALAND has spent timeresearching a Qatari architec-ture and urban planning lan-guage with the foremost expertsin the industry to reclaim thislanguage for future generations.The company’s mission is to

build sustainable, innovative developmentsthat enrich communities and individuallives, all while promoting environmentallyfriendly living.

DOHALAND is working with some of theworld’s leading master planners, architects,engineers and designers to serve the imme-diate and future needs of the capital’s com-munities. The use of certain aspects oftraditional Qatari architecture featuringproportion, simplicity, space, light, orna-

ment and response to climatewill be evident in the Musheirebproject.

“Our approach to environ-mentally friendly building willset new standards for greenbuilding. Our ancestors did notneed state-of-the-art technolo-gies to create buildings thatwere sustainable and environ-mentally friendly. Instead, theytook advantage of what theywere given: the wind, the sun,

the sand and the local building materials.The Musheireb project will utilize the sameelements that we have learned from ourancestors, but in their modern context,” saysDOHALAND’s CEO.

The Musheireb project will even havean entire underground city, planned toreduce car use and congestion whileimproving connectivity across the widercity area, with pedestrian areas and peace-ful squares that shall ensure minimal dis-ruption from traffic.

“What is innovative is that it is truly beingbuilt for the benefit of people. All decisionsare made with two considerations: reviv-ing our heritage and culture and providinga place that allows people to grow andflourish,” says Al Mohannadi. ■

DOHALAND: REVIVING HERITAGE,EMBRACING MODERNITYDOHALAND aims to regenerate the architectural landscape of Qatar with its first project, Musheireb.It revives the lost language of local architecture, creating a new blueprint for urban planning in Qatar

Issa M. AlMohannadiCEO of DOHALAND

HELPINGFULFILL QATAR’SVISION 2030‘We are set to fulfill thevision of HH SheikhaMozah to prepare thepeople of Qatar to meetthe challenges of anever-changing world’

Qatar has become adept at offeringan ideal balance of the ancient andthe modern in its social, economicand cultural practices. DOHA-LAND’s practices are perfectly in linewith this vision, and the company isstriving to help the nation reach its2030 development goals.

DOHALAND bases its business onfive pillars: heritage and culture,innovation, sustainability, enrich-ment and environment. According tothe firm, it is ready to contribute tothe Qatar Vision 2030 project andsupply ideal real estate.

“What we are pursuing at DOHA-LAND is not the easiest or quickestdevelopment strategy. Our projectsrequire significant research and willinvolve the input of a diverse groupof people around the world. We havetaken a road which will be chal-lenging, but the product will cer-tainly justify the work,” says CEOEng. Issa M. Al Mohannadi.

“We are embarking on a mis-sion to enhance and contribute tothe social dynamism, cultural her-itage and quality of life in Doha,Qatar, and beyond. DOHALANDprojects will provide a dynamicmodern lifestyle that exists in har-mony with its surroundings, andempowers our human potential togrow and flourish.”

“We want to encourage people to interact with each other, all within walking distance”

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DRIVING TOMORROW’S TELECOMMUNICATIONSQatar Telecom (Qtel) has been the main driver in developing the nation’s IT infrastructure andcommunications infrastructure and has achieved international recognition by winning some of theindustry’s most prestigious awards, including the ‘Telecom Deal of the Year’ for 2007, 2008 and2009, as well as the ‘Corporate Social Responsibility’ award at the CEO Middle East Awards in 2009

Since the telecommunications sector in Qatar liberal-ized, the Qtel Group has continued to lead the way

with cutting-edge technologies and an ambitious globalexpansion to establish itself as an industry leader. “Ourvision is very clear: to be one of the top 20 telecommu-nications companies in the world by 2020,” says Dr.Nasser Marafih, CEO of the Qtel Group.

With a presence in 17 countries and over 60 millioncustomers, the Group has strong insight into the brightspots of the international telecoms market, particular-ly given its growing presence in the Asia-Pacific region.

Establishing itself as a global leader, the Qtel Grouphas a strategy that focuses on three main pillars. The firstpillar is the consumer cellular market, where the Groupstill sees great potential.

“Today, there is considerable room for growth withregards to this market and we have a strong position inthe right countries to be able to benefit,” says Dr. Marafih.

The second pillar of the Group’s strategy focuses ondelivering broadband for Internet services. Here, the com-pany has identified a huge growth opportunity, and hascreated the wi-tribe brand to deliver broadband wire-less technology to the region and beyond. The Qtel Grouphas a strong partnership with Clearwire on this venture.

The Qtel Group’s third pillar of growth involves deliv-ering IT services and solutions to the enterprise mar-ket as there is little attention given to this area in theregion, according to Dr. Marafih. The company is posi-

tioned to achieve this through its partnership with AT&T.Looking towards the future, the Qtel Group is keen to

explore further partnership opportunities with compa-nies that can add value in any way. Dr. Marafih says,“We always welcome partnerships with any company,large or small, that can add value as we pioneer tech-nologies and services that benefit people and the com-munities we serve.”

In Qatar, Qatar Telecom was able to acquire new cus-tomers at a record rate during 2009, reflecting thenation’s buoyancy during this period of global reces-sion. Qatar Telecom has made Qatar known in theregion for having one of the highest broadband capa-bilities, literally covering the whole country.

“Amongst our advantages, we have a small countrythat has developed recently and have thus been able toimplement the latest IT infrastructure from the begin-ning, without the need to change existing ones,” con-cludes the CEO. ■

Dr. Nasser MarafihCEO of the QtelGroup

‘WE ARECOMMITTEDTOPROVIDINGTHE BESTTECHNOLOGYTO DEVELOPA DYNAMICKNOWLEDGE-BASEDSOCIETY’

Qtel has long been a pioneer in bringing itscustomers cutting-edge technologies. Thecompany was the first provider to launch IPTVservices in Qatar, and also made Qatar thefirst country outside Europe to offer GSMservices in 1994.

One of the most impres-sive and innovative servicesoffered by the Qtel Group isWiMax, the advanced,fourth-generation, wirelessbroadband technology.Moreover, Qtel has also beenone of the first telecom groups in the regionto become a member of the MobileEntertainment Forum in order to developapplications, entertainment and services formobile users.

“Telecommunications is a matter of nation-al importance and pride,” according to QtelGroup CEO Dr. Nasser Marafih. “If you lookat the overall portfolio of products and ser-

vices available in Qatar, you will see that theyare very advanced, thanks to what we offer.”

Qatar boasts over 140% mobile penetra-tion, 50% in broadband Internet and 100%penetration in fixed line technologies. Qtel

is largely responsible forthis. The Group has entereda long term collaborationwith the Qatar Science &Technology Park to createa mobile innovation ecosys-tem for the MENA regionby promoting the develop-

ment of new cellular applications, such asm-payment, health, education and govern-ment services, to drive consumer uptake ofmore advanced mobile services. “We are aim-ing to develop IT innovations that are nec-essary for the whole region,” says Dr. Marafih.“Developing applications, entertainment andservices for mobile telephony represents ahuge area of growth.”

With Qatar’s market open to competition, Qtel continues tooffer the latest technologies at consumer-friendly prices

READY, SET, DIAL!

Qtel Group CEO Dr.Nasser Marafih wasalso awarded‘Outstanding Leader of the Year’ byTMT Finance

SETTING GLOBALFOOTPRINTSWith a clear vision andan aggressive businessmodel, the Qtel Groupcontinues to expand itshorizons through high-profile acquisitionsSince its inception, the Qtel Grouphas managed to increase its mar-ket share in most, if not all, of themarkets it has entered, thanks inpart to the ability of aligning itselfwith the right partners.

“Our acquisitions team has aclear idea of what we need to achieveupon entering a market. It is vitalto enter an operation that providesus with organic growth. When con-sidering any acquisition, we evalu-ate the opportunity carefully to seehow it is structured and how it canfit into our strategy,” says CEO Dr.Nasser Marafih.

Over the past three years, the QtelGroup acquired majority stakes inKuwait’s Wataniya Telecom andIndonesia’s PT Indosat Tbk, twoleading operators in their markets.These acquisitions were a turningpoint in the company’s history, asthey played a major role in puttingthe Qtel Group on the world map,in addition to the Group being award-ed the ‘Deal of the Year Award’ –one of the industry’s most prestigiousawards – for the last three years.

The Qtel Group is also poised tobecome a key player in the upcom-ing mega-developments of Lusailand Energy City in Qatar. “Wealready have a relationship in placewith Energy City to build their plat-forms and solutions,” explains Dr.Marafih. “We also have good busi-ness ties with BARWA and othermajor developers. Qatar’s newlarge-scale developments haveunique telecom needs that must besatisfied and Qtel will be in thefront line here.” ■

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Always thinking big, through Navlinkand its solid relationship with AT&T,

the Qtel Group is positioning itself as oneof the main companies in providing region-al networks that deliver broadband forenterprise and the corporate world.

“Partnerships are one of ourcompany’s strengths as we prideourselves in having the righttechnology and global platformfor our partners to benefit,”says CEO Dr. Nasser Marafih.Qtel’s strength is also reflectedthrough its partnership withother world-class companiessuch as Clearwire, one of theleading global companies inproviding WiMax solutions forbroadband customers.

The Qtel Group continued itstrend of working with the bestand acquired Liberty TelecomHoldings in May 2008, followedby a memorandum of under-standing with Philippine corporate giantSan Miguel in December 2008 to form ajoint venture focusing on wireless broad-band and a cellular communications pro-ject.

Within the region, the Qtel Group’sinvolvement in Oman’s market is also like-ly to see a significant boost in the com-ing times as one of the major playersinvolved in Nawras, the Omani-Qataritelecommunications company. Following

a recent Royal Decree, Nawras– a Qtel Group company – isnow entitled to provide fixed,data and international telecom-munications services in Omanand can use its network infra-structure to offer a range ofleading-edge technologies, suchas WiMax and HSDPA ser-vices. Since its launch in 2005as the second operator inOman, Nawras has provided awide range of new innovationsfor the GSM market, growingto over 1.7 million customers.

Commenting on the QtelGroup’s 2009 results withrevenue growth of 18.2%

(QAR 24 billion or $6.6 billion) andsubsequent results in Q1 2010 with rev-enue growth of 14.2% (QAR 6.4 billionor $1.8billion), Chairman SheikhAbdullah bin Mohammed bin Saud Al-Thani said: “2009 has been a year ofreal achievement for the Qtel Group asI am proud to announce that we are nowthe largest telecommunications providerin the Middle East-North Africa regionby number of operations.” ■

WORKING WITH THE BESTTo lead cellular innovations inQatar and abroad, the QtelGroup has partnered withglobal companies such as AT&T

At the heart of Qtel’s developmentstrategy is their sustainable approachto corporate social responsibility(CSR). “We feel a responsibility tosupport the community in Qatar andthe rest of the countries in which weoperate,” says CEO Dr. NasserMarafih. Education, healthcare,environmental issues, social welfareand sport represent the five key areasthat Qtel has already been con-tributing towards in Qatar andabroad.

In healthcare, Qtel establishedthe Qtel Kidney Dialysis Center, whichopened in August 2009. The 80-bedfacility will host two floors with 38dialysis units each.

As part of its ‘For Qatar, Hand inHand’ campaign, the Group also hasmade significant donations to theZakat Fund, which provides oppor-tunities for high potential, youngscholars across Qatar. In education,Qtel is also a major supporter oforiginal research within Qatar, finan-cially enabling the creation of a wire-less communication researchlaboratory in Education City in part-nership with local universities.

Qtel is known for its highlyeffective and sustainableapproach to CSR

HAND IN HANDWITH QATAR AND THE WORLD

The company recently signed an MoU withSan Miguel Corporation of the Philippines

In 2009, the Qtel Group was welcomed asthe newest member of the MobileEntertainment Forum (MEF) – EMEAchapter, which is designed to acceleratemobile media innovation across the MENAregion and Asia. In the same year, Qtelsigned a memorandum of understandingwith Qatar Science and Technology Park(QSTP) to establish the first mobile inno-vation ecosystem for the MENA region.

“The mobile media industry is evolvingrapidly. Qtel is accelerating innovation to

bring customers new experiences at work,home and play. This is reinforced as webecome a member of MEF and work close-ly with QSTP,” says CEO Dr. Nasser Marafih.

During the 2010 Mobile World Congressin Barcelona, the Qtel Group positioned itselfat the forefront of innovation by makingmajor announcements in the areas of mobilesocial networking, mobile music and mobilemoney. The Group also announced key part-nerships with global players, such as Microsoftand Universal Music, in the areas of cloud

computing, e-Learning and mobile music ininternational and local genres.

In addition, Qtel continues to support cut-ting-edge research and has unique wirelessbroadband access research with CarnegieMellon University, Qatar University, CNAQand Texas A&M University in Qatar. Thesedistinct projects are among the most in-depth and far-reaching yet conducted with-in the region and have the potential to makea major impact on the future direction oftechnology for the Middle East. ■

With MEF and QSTP, Qtel is working toward building a cellular innovation hub for the regionTHINKING AHEAD

Sheikh Abdullah binMohammed binSaud Al-ThaniChairman of the Qtel Group

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