Qatar Central Financial institution to launch new fintech technique in This autumn

Minister of Finance H E Ali bin Ahmed Al Kuwari, Minister of Commerce and Trade H E Sheikh Mohammed bin Hamad bin Qassim Al Thani, Minister of Transport H E Jassim bin Saif bin Ahmed Al Sulaiti, Minister of Communications and Data Expertise H E Mohammed bin Ali Al Mannai, QCB Governor H E Sheikh Bandar bin Mohammed bin Saoud Al Thani, and different officers and dignitaries in the course of the Euromoney Qatar Convention held at Ritz Carlton Doha, yesterday. Pic: Amr Diab

The Qatar Central Financial institution (QCB) will launch a brand new fintech technique in the course of the fourth quarter (This autumn) of the 12 months, as a part of the a number of measures being carried out by the central financial institution to advertise a digital society and superior monetary setting within the nation, QCB Governor H E Sheikh Bandar bin Mohammed bin Saoud Al Thani stated yesterday on the Euromoney Qatar Convention which was held beneath the patronage of the Prime Minister and Minister of Inside H E Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani.

Co-hosted with the QCB, the occasion was additionally attended by the Minister of Finance H E Ali bin Ahmed Al Kuwari, the Minister of Commerce and Trade H E Sheikh Mohammed bin Hamad bin Qassim Al Thani, along with different officers, funding professionals, financiers, and economists.

Talking concerning the QCB initiative to develop Qatar’s regulatory setting because the nation strikes in direction of changing into a regional chief within the subject of digital banking companies, the Central Financial institution Governor stated: “As half of the present improve of the fee system software program, a totally built-in fee platform will probably be carried out, with Centralised Infrastructure for nationwide real-time fee community. Qatar Central Financial institution will set the mandatory infrastructure to allow banks to simply accept contactless funds from the digital wallets, and on this regard, we now have labored on designing a brand new Fintech technique which we’re planning to launch by the 4th quarter of this 12 months”.

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In his keynote handle in the course of the occasion, the QCB Governor additionally highlighted that ‘Qatar’s financial exercise immediately is far stronger than it was in 2020’ because the nation occupies the place of the world’s main LNG exporter. Financial prospects stay vibrant, amid restoration in home demand, non-public sector credit score development, in addition to the preparations to host the FIFA World Cup Qatar 2022, he stated.