Information security ‘top priority for QCB’

QNA/Doha

The financial sector in Qatar is a model in terms of the technology used in the infrastructure and advanced systems in the field of information security, HE the Governor of Qatar Central Bank (QCB) Sheikh Abdullah bin Saud al-Thani said yesterday.

Addressing the opening session of QCB conference on information security in financial institutions in Doha yesterday, HE Sheikh Abdullah bin Saud al-Thani said that in this regard the financial sector of the state co-operate with international companies specialised in application of the best security practices.

  He said Qatar Central Bank has sought the assistance of experts to develop and promote the levels of security.

He added that all control and regulatory bodies of the financial sector in Qatar operate according to a common vision to achieve the specific objectives and implement policies designed for the development of the financial sector. 

The bank has formed a joint team of Qatar Central Bank and operating banks in the country specialised in the security aspect of information, and operates through its stated aims to raise the level of employees and promote the culture of dealers on insurance of individual and institutional risks, as well as to secure data sent via e-mail between financial institutions with the latest encryption systems, Sheikh Abdullah said. 

He said information security and its protection is one of the top priorities and concerns of control and regulatory bodies, because of their impact on the reputation of the entire financial sector and its performance.

The governor of Qatar Central Bank said the security of financial information in all its forms has found great and continuous support of the State at the highest levels, indicating that a stable and growing economy is one of the four pillars of Qatar National Vision 2030. He noted that the banking and financial sector constitute the great part of Qatar National Vision 2030 and that QCB works in order to develop this sector, protect it and enhance the confidence of clients in it.

In a statement released yesterday, the QCB said that the conference will discuss how to deal with the challenges of information security and, on its final day, will come out with a set of recommendations, adding that it was keen to implement its resolutions.