Recently formed Al-Rayyan Bank has appointed Singapore’s Jurong International to

prepare a feasibility study on the establishment of a hub for

technology companies in the state, at an estimated cost of $2,000 million.

The project aims to attract regional and international

firms to set up in the smart industrial city’ and at the same time provide a boost to the local industrial and manufacturing sectors. A detailed schedule will be announced on completion of the feasibility study. Al-Rayyan Bank, which staged an initial public offering (IPO) in early 2006, also opened its first branch in Doha on 8 October (MEED 3:2:06).