The Commercial Bank of Qatar (CBQ) and Carnegie Mellon University in Qatar (CMU-Q) have signed a memorandum of understanding (MoU) to collaborate in education, scientific research and community development. The MoU comes into effect immediately and was signed by Commercial Bank's CEO Abdulla Saleh Al Raisi and CMU-Q's Dean and CEO Dr Ilker Baybars signed the MoU at Commercial Bank Plaza. It comes into effect immediately, CBQ said Monday in a media statement. The first in a series of joint initiatives between CBQ and CMU-Q is a research project on the local banking sector, including a detailed analysis of market trends and the impact of international regulations. Further initiatives under the MoU include senior CBQ executives attending CMU-Q's Executive Education Programme, and the bank sponsoring a competition where CMU-Q students address the needs of senior citizens in Qatar and their caregivers. "Commercial Bank places a strong emphasis on education and development, both internally and across Qatar in support of the Qatar National Vision 2030," said Al Raisi. "I am delighted to strengthen our relationship with this world-class university and the numerous joint initiatives under the MoU will make a valuable contribution towards building a knowledge-based economy." "Carnegie Mellon is committed to Qatar's National Vision 2030, with a particular focus on educating the next generation of leaders and thinkers in Qatar. We look forward to collaborating with Commercial Bank to bring new opportunities for our students, faculty and the wider community," Baybars said. The MoU aims to improve university students' knowledge education, scientific research, executive training, social development as well as business management, IT and public policies. To achieve these goals, both parties will organize joint conferences and workshops, the bank said.