Flood-hit areas' rehabilitation: Qatar chalks out five-year endowment plan

This was announced by the CEO of Sheikh Thani bin Abdullah Foundation for Humanitarian Services (RAF), Qatar, on Friday at a press conference. Ayez Qahtani said that the foundation has spent $30 million on emergency and relief assistant for flood affectees of 2010 and planned to contribute for the rebuilding of the calamity hit areas of Pakistan.
He said that in a recent development, the foundation has raised the amount to around $4 billion, which would be provided to some five countries which have been facing natural disasters. "Out of total aid assistance, Pakistan will get a major chunk', he added.
Talking about the humanitarian assistance of Qatar, he said that Qatar, with the help of development partners, has been executing the development projects in Swat, Punjab and Sindh. He said Qatar has rebuilt 1,200 houses, commercial and health centres, schools and other community-based development projects and, enrolling with the fund, more projects in pipeline would be completed.
About setting up Qatar International Islamic Bank, Abdul Basit Alsheibi, CEO Qatar International Bank in Qatar said that soon the bank would be operative in Pakistan. The bank has been in the process of obtaining permission from the State Bank of Pakistan to open its branches in Pakistan. Pak Qatar Takaful Insurance CEO Syed Zeeshan said that paid up capital of the insurance reached to Rs 1 billion in a short span of three years and is getting momentum in Islamic financing sector. He said that in more than 24 cities, Takaful Insurance has set up its branches and provided employment to Pakistani youth.