Australian embassy launches fintech regulation guide – The Peninsula

Australian embassy launches fintech regulation guide – The Peninsula

Doha: Australian Ambassador to Qatar, H E Jonathan Muir officially launched the ‘Guide to Fintech Regulation in Australia and the Gulf Region,’ at the Australian Embassy in Qatar yesterday.

The guide was funded by the Council on Australian and Arab Relations in the Department of Foreign Affairs and Trade and outlines the regulatory environments applying to financial technology industry in Australia and the Gulf region.

“The guide captures the strong interest in the Gulf on what Australia can offer, as GCC countries develop their fintech [financial technology] industries — and the growing interest in Australia in what opportunities exist in the Gulf as we emerge as a global player in fintech,” the ambassador said.

“Australia has a competitive edge in fintech, now ranking sixth in the world in Global Fintech rankings. We have one of the fastest growing fintech sectors in the world, increasing from QR600m in 2015 to QR10bn today — built on our QR25tn financial services industry,” he added.

“It is my expectation that this guide will mark an important milestone in the collaboration between GCC countries and Australia in fintech,” Ambassador Muir said.

Guide co-author, Professor Niloufer Selvadurai said: “The Guide to Fintech Regulation in Australia and the Gulf Region helps Fintech