Doha: Economic experts point out the importance of the new financial technology strategy (FinTech), announced by Qatar Central Bank to launch in the fourth quarter of this year, and Qatar’s regional leadership in financial technology services. Said to boost. ..

Qatar Central Bank Governor Sheikh Bandar bin Mohammed bin Saud al-Tani spoke at the opening ceremony of the 9th edition of the Euromoney Qatar Conference last week, where banks designed new strategies for financial technology. We are working on and will launch this strategy in the last quarter of 2022. He has shown that a fully integrated payment platform will be created as part of the current update of payment system software, including a central infrastructure system for state-level rapid payment networks. Qatar. Qatar Central Bank is also creating the infrastructure needed to enable banks to approve payments from digital wallets.

The financial technology strategy is basically based on technology research and development, supporting the transition from traditional channels in banking to digital alternatives. This is because preparations are currently underway to launch a digital bank that provides banking services via mobile, or what is called a new bank. Phone applications and services.

Qatar Central Bank has developed and disseminated a number of regulations related to financial technology, including electronic insurance guidelines, payment service regulations, and electronic “KYC” management principles. In addition, the number of companies offering financial technology services in experimental virtual environments has increased before the licensing process to ensure that these companies have safer and more effective payment options.

Commenting on the announcement of a new financial technology strategy to be launched by Qatar Central Bank, economic expert Dr. Abdullah Al-Hatter said Qatar has taken an important step and made a qualitative leap in the field in the past. I confirmed that in a statement to QNA for several years. He added that Qatar’s banking system has been able to adapt quickly to technological changes and meet the challenges by digitizing banking operations thanks to the strategic planning pursued by Qatar Central Bank. rice field. Performing regular tasks such as token currency and other operations performed via various electronic media utilizing telephone applications and artificial intelligence that have changed the scene of the banking sector in Qatar.

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