Qatar FinTech Hub to focus on emerging trends in 2023

Qatar FinTech Hub to focus on emerging trends in 2023

Qatar - The Qatar FinTech Hub (QFTH) is working to create a positive impact on the country’s economic development through the Qatar Central Bank’s (QCB) National FinTech Strategy, a top official of Qatar Development Bank (QDB) has said.

“Keeping in mind our role as a sector developer and the executor of the National FinTech Strategy orchestrated by the Qatar Central Bank (QCB), this year, we are focusing on new themes that target emerging trends and market demand, which are paytech, insurtech, buy now, pay later (BNPL), and collective debt-based crowdfunding,” QDB CEO Abdulrahman Hesham al-Suwaidi stated earlier in an event.

In a speech, al-Suwaidi summarised QFTH’s ambition to enable the digital transformation of Qatar’s financial services ecosystem, promote economic diversification and attract industry partners, and build financial services skillsets of the future.

“One of the goals behind the Qatar FinTech Hub programme is to develop an ecosystem for the fintech industry to thrive in Qatar. As part of the same, we are honoured to be partnered with the likes of Qatar Central Bank, Qatar Financial Centre, Microsoft, Visa, MasterCard, Qatar Insurance Company, Meeza, and Blockchain Research Institute,” he said.

Over the years, al-Suwaidi said QFTH has also made significant investments in the fintech portfolio,