Over 60 startups benefited from Qatar FinTech hub initiatives
Doha: Over 60 startups have benefited from the Qatar FinTech hub initiatives and the Qatar Financial Center has attracted many international fintech companies to Qatar, said Qatar Central Bank (QCB) Governor Sheikh Bandar bin Mohammed bin Saoud Al Thani.
The QCB Governor said that the State of Qatar has made advanced advances in financial technology, praising the country’s development in this field thanks to the support of various parties that have contributed to the development of infrastructure that can support efforts to make digitization central to the economic transformation agenda.
This came in a speech delivered by the governor before the participants of the annual conference organized by Visa Inc. to honor emerging companies, as part of the “Visa Everywhere” initiative for innovation in financial technology and digital payments.
The QCB Governor stressed the importance of staying abreast of developments to understand and address any gaps to protect financial stability through cooperation and exchange of experiences in a way that helps to provide the best services, while maintaining the security and confidentiality of data secured.
He pointed to QCB’s initiatives to support emerging financial technology companies,
including licensing to offer electronic payment services in addition to developing digital services.
He emphasized the importance of the annual conference as a platform for innovation and an opportunity to present innovative products and solutions in the field of financial technology and digital payments and added that today’s reality requires continuous work to develop banking services while he is looking forward to the future. , pointing to developments in the financial sector as a result of the Coronavirus (Covid-19) pandemic that accelerated the digital transformation, as digital card and mobile phone payments increased in exchange for a decline in the use of cash.
At the end of the speech, the governor of the central bank noted the bank’s eagerness to prioritize digital payment solutions in line with the development goals of Qatar National Vision 2030.
“Visa Everywhere” is a global initiative organized by Visa annually with the aim of stimulating innovation in financial technology companies. Five companies qualified for the final rounds from around the world.
