Qatar’s Fintech strategy witnesses positive outcome

Corporate officials stressed the importance of launching Qatar’s strategy for financial technology and its positive repercussions on the Qatari economy, financial markets and insurance. According to the official account of the Qatar Central Bank on Twitter, Larsen Gerhmann, Head of Digital Group and Head of Partners in Digital Projects at Qatar Insurance Group, considered that the financial technology strategy launched by the Qatar Central Bank will enable Qatar Insurance Company, as a leading insurance company in the region, to work better in the sector. Digital insurance. He added: We have published the main digital sales in the region, which resulted in a strong digital market share in the State of Qatar and in the Gulf region. He pointed out that the insurance technology sectors play an important role within our digital strategy. He explained that we have established the Digital Project Partners Unit of the Qatar Insurance Group with the aim of building and investing in the insurance technology sectors in the State of Qatar and the Middle East and North Africa region. And he added:

For his part, Basil Haddadin, Regional Sales Manager at Google Cloud, said: We are committed to the growth taking place in the State of Qatar. He pointed out that in 2019 we announced our first cloud services center in the Middle East, Turkey and Africa, in cooperation with the Qatar Free Zones Authority and the Ministry of Communications and Information Technology, to be here in Doha, which helps provide our leading technology services closely to our customers in the country, in line with different regulatory frameworks. In addition to sharing the culture of innovation with the Qatari market. And he went on to say: We also announced the establishment of the Google Cloud Center of Excellence, with the aim of enabling and training the most important pillars of creativity and innovation, the “human element”, whether they are individuals, financial technology companies, or institutions operating in the country.

It is noteworthy that the Governor of Qatar Central Bank announced the launch of the Qatar Financial Technology Strategy last Tuesday. He stressed that the launch of the financial technology strategy coincides with the Qatar National Vision 2030 to support and promote a diversified economy and invest in a knowledge-based economy.

He pointed out that our vision for financial technology focuses on development, diversification and raising the competitiveness of the financial technology sector and financial services in the State of Qatar through leadership in infrastructure while providing solutions that positively affect the customer experience.

The strategy was also based on a comprehensive study of the financial technology sector globally, with an analysis of the strengths of the national economy and the pillars of the Qatari financial sector. The financial technology field to enable it to grow and expand rapidly.

His Excellency Sheikh Bandar bin Mohammed bin Saud Al Thani said: The financial technology strategy is based on four main axes, including:

The first axis, establishing a pioneering infrastructure that includes advanced regulatory rules and electronic platforms that support the development of financial technology.

The second axis, giving priority to innovation and growth in the financial technology sector, especially Islamic and sustainable financial technology, insurance technology, empowering companies and developing their performance by taking advantage of emerging financial technology solutions.

The third axis, making the State of Qatar a main center in the development of competencies in the field of financial technology, by taking advantage of the pioneering educational infrastructure in the country.

The fourth axis, providing financial technology solutions that improve the lives of individuals and the performance of companies by providing seamless financial services and supporting the transition towards cashless transactions.


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