A: The National Fintech Strategy is built on a four-pillar approach to the development of fintech in the country. The pillars include establishing pioneering infrastructure, prioritising innovation and growth with a focus on Islamic finance and sustainable technology, developing human capabilities related to financial technology, and leveraging fintech technology for broader societal benefits.
QCB has more than 20 initiatives planned over the next five years as part of the Fintech Strategy. The initiatives include the development of a new framework and regulations to support the fintech ecosystem and enable firms to test emerging technologies through the regulatory sandbox. The strategy will facilitate innovative products and services in the financial services industry, offer efficiency and cost savings by leveraging digital tools, foster an enhanced sense of transformation and digital maturity at institutions, nurture talent both locally and from abroad, provide greater employment opportunities, and maintain the competitiveness of Qatar both regionally and globally.
