More than 60 startups have benefited from the initiatives of the Qatar FinTech Hub and the Qatar Financial Centre has attracted many international financial technology companies to Qatar, said HE the Governor of the Qatar Central Bank (QCB) Sheikh Bandar bin Mohamed bin Saoud al-Thani.
HE Sheikh Bandar said that the State of Qatar has made advanced strides in the field of financial technology, praising the country's development in this field thanks to the support from various parties which contributed to the development of infrastructure that can support efforts to make digitisation central to the economic transformation agenda.
This came in a speech delivered by HE Sheikh Bandar on Thursday evening before the participants of the annual conference organised by Visa Inc to honour emerging companies, as part of the 'Visa Everywhere' initiative for innovation in the field of financial technology and digital payments.
The QCB governor stressed the importance of keeping abreast of developments in order to understand and address any gaps to protect financial stability through cooperation and exchange of experiences in a way that helps provide the best services, while ensuring the security and confidentiality of data.
He pointed to the QCB's initiatives to support emerging companies in the field of financial technology, including licensing to provide electronic payment services in addition to developing digital services.
He stressed 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.
The QCB governor added that today's reality calls for continuous work on developing banking services while looking forward to the future, pointing to the developments in the financial sector as a result of the coronavirus (Covid-19) pandemic which accelerated the digital transformation, as payments by digital cards and mobile phones increased in exchange for a decrease in the use of cash.
Concluding his speech, the QCB governor noted the bank's keenness on giving priority to digital payment solutions in line with the development goals of the Qatar National Vision 2030.
The "Visa Everywhere" is a global initiative organised by Visa annually with the aim of stimulating innovation in financial technology companies.
Five companies qualified for the final rounds from the world.
Related Story