Doha, 29 November 2007
Local youth to revamp work readiness skills
In an effort to leverage the work readiness skills of the local youth INJAZ al-Arab launched its operations this week in Qatar with the support of the Qatar Financial Centre.
A not-for-profit organization dedicated to preparing the Arab youth to succeed in a global economy, INJAZ al-Arab offers hands-on classroom programs presented by private sector volunteers in financial literacy, entrepreneurship, and work readiness.
Qatar has the highest capita per head in the Middle East and is one of the world’s fastest growing economies with an average annual GDP growth rate of 18 %. As the country embraces the free market economy, the share of Qatari workforce in the private sector has declined from 10 percent in 1986 to 4% in 2004, according to a World Bank report.
“The creation of employment and enterprise opportunities for young people is one of the most critical sustainable development challenges facing our region;” explained Soraya Salti, Senior Vice President, INJAZ al-Arab. “It has never been timelier as it is today to launch this initiative in Qatar. We are building a generation of young Qataris who will be active contributors to the country’s economic boom – mirroring the values and skills that leaders in the private sector embody,” Salti continued.
INJAZ Program Director in Qatar Fayza Mehanna reiterated the need for the Qatari business sector – together with government and civil society – to bridge the gap between required private sector work skills and those of young Qatari school students and undergraduates. “The education system, thanks to major government investments, is now developing rapidly in Qatar and INJAZ wants to be part of this movement,” said Mehanna. “So far we have reached a total of 200 students since our inception last September. We are currently operating in three independent schools with a target to reach a total of 500 students during the 07-08 academic year, and more in the coming years” Mehanna continued. “We call upon the Qatari private sector and academia to join us in this ambitious movement to nourish a generation of young Qatari business leaders and visionaries,” Mehanna stated.
Meanwhile, Stuart Pearce, Chief Executive Officer and Director General of QFC, highlighted QFC’s central role in creating employment opportunities for Qatari nationals as part of its mandate to develop the local financial sector. “Our partnership with INJAZ, which has a commendable record of achievement in the region over the past 10 years, supports our mission to leverage the skills of Qatari youth, and we have already seen the positive impact that INJAZ programs have had not only on the students but also on our volunteers who are enjoying the chance to interact with and support the next generation of young executives," Pearce explained.
The launch of INJAZ in September 2007 is financially supported by QFCA, along with the in-kind contributions of HSBC and Carnegie Mellon University.
Robert DeGama, Deputy CEO and Chairperson of the Corporate Social Committee at HSBC in Qatar, strongly believes in the need to invest in education to support a nation’s development and prosperity. “Injaz is a perfect platform to demonstrate our commitment to education. Our staff volunteers take pride in contributing to make a difference in the lives of the children they teach and gain valuable experience themselves through the contact they have with young minds” said DeGama.
In September 2007 Carnegie Mellon University in partnership with the Qatar Science and Technology Park introduced the Executive Entrepreneurship Certificate Program offered at the Qatar Foundation’s Education City. “We believe that developing a business culture can never start too early and we are proud to be partnering with INJAZ to help develop the future business leaders of Qatar,” said Mohamed Dobashi, Chief Operations Officer at Carnegie Mellon in Doha.
Media Contact
Fayza Saad Mehanna (Injaz)
Qatar Program Director
Fax: +974 4650731
Mobile: +974 5308810
fayza@injaz-arabia.org
Steve Martin (QFCA)
Head of Corporate Communications and Marketing
Tel +974 496 7755
Mob +974 583 1937
s.martin@qfc.com.qa
Notes to Editors:
About INJAZ al-Arab
INJAZ al-Arab is a not-for-profit organization committed to inspiring and preparing the Arab youth to succeed in a global economy. INJAZ is an affiliate of JA Worldwide® (Junior Achievement), which provides hands-on, experiential learning in financial literacy, entrepreneurship, and work readiness to 8.3 million students annually. With offices in 12 Arab countries – and an extensive international network of partners [from the international and regional private and public sectors] – INJAZ al-Arab mobilizes a global force of business volunteers to teach in-school and after-school programs that give students the tools they need today, to succeed tomorrow. MENA student participation in INJAZ programs for the 07-08 academic year has reached 83 thousand.
Qatar Financial Centre
The Qatar Financial Centre (QFC) is a financial and business centre established by the Government of Qatar and located in Doha. It has been designed to attract international financial services institutions and major multi-national corporations and to encourage participation in the growing market for financial services in Qatar and elsewhere in the region. The QFC will operate to international standards and provide a first class legal and business infrastructure for those operating within the QFC. The QFC was created by Qatar Law No.(7) and has been open for business since 1 May 2005.
QFC Regulatory Authority
The QFC Regulatory Authority is an independent regulatory body established by Article 8 of the QFC Law. It regulates firms that conduct financial services in or from the QFC. It has a broad range of regulatory powers to authorize, supervise and, when necessary, discipline firms and individuals. The QFC Regulatory Authority regulates firms using principle-based legislation of international standard, modeled closely on that used in London and other major financial centers. The Regulatory Authority is currently receiving applications and granting authorisations.
QFC Authority
The QFC Authority is the commercial, administrative and legislative body responsible for driving the commercial strategy of the QFC and for developing relationships with the global corporate community and other key institutions both within and outside of Qatar.
The QFC Civil and Commercial Court and QFC Regulatory Tribunal
The QFC Civil and Commercial Court and QFC Regulatory Tribunal were launched in February 2007. The President of the Court is Lord Woolf, formerly Lord Chief Justice of England and Wales. The Court is modelled on the internationally respected Commercial Court in London. In the event of disputes in matters of law, it will be the final arbiter. The Regulatory Tribunal has been established to hear and decide upon appeals from decisions of the QFC Regulatory Authority and other QFC agencies. Its Chairman is William Blair, QC. Both the President and the Chairman are supported by Judges who have held the highest judicial offices in their own jurisdictions.