Regulatory frameworks introduced by the Qatar Central Bank (QCB) are driving structural shifts in the country’s financial technology ecosystem, paving the way for stronger collaboration between traditional financial institutions and homegrown fintech ventures.
Mohamed al-Delaimi, managing partner of SkipCash, told Gulf Times that the central bank’s active policy push has broadened the scope for domestic digital financial services.
“From a regulatory perspective, we see that the central bank is pushing several frameworks to enable specific fintech activities to operate in Qatar,” al-Delaimi pointed out.
He lauded the QCB for establishing dedicated regulatory structures covering payment infrastructure, wealth management platforms, crowdfunding initiatives, real estate tokenisation, artificial intelligence (AI) applications, and digital banking services. These legislative moves have encouraged more founders to launch ventures in the local market, he emphasised.
“The difference that we are seeing right now is the reaction that’s happening from the startup ecosystem,” said al-Delaimi, adding that “we believe more founders and more entrepreneurs are entering this field.”
He explained that the sector’s evolution in Qatar has allowed pioneer firms to support emerging players entering the market. Based on its experience navigating compliance and payment integration, SkipCash has assisted peer ventures in securing operational approvals.
“We took the opportunity to develop technologies related to payment solutions. And because of these developments and experience that we gained, we were also able to assist other partners like PayLater, which is offering Buy Now, Pay Later solutions in the local market, to develop and get their compliance and licensing to operate in the market,” al-Delaimi pointed out.
The alignment between state regulators and local tech companies has picked up speed over the past three years, he said, further explaining that this ongoing cooperation is building trust across the wider banking industry, leading to increased institutional backing for domestic startups.
“This is where we see harmony between the regulator and Qatar entrepreneurial ecosystem, working closely together to bring new technologies into the market,” al-Delaimi stressed.
