Qatar Strives to Become a Global Fintech Hub

Qatar Strives to Become a Global Fintech Hub

Striving to turn the country into a major fintech hub, the Qatar government has introduced a number of programs and initiatives to support local startups and entice international fintech companies to set up shop domestically and choose the nation as their launchpad for the global market.

These ambitions were shared in a 2021 whitepaper by the Qatar Fintech Hub, an initiative by Qatar Development Bank (QDB). The report, titled From Qatar to the World: A report on the state of Fintech in Qatar, provides a holistic review of the local and regional fintech market, delving into the recent developments which have occurred in the sector and sharing the main growth drivers of fintech in Qatar.

According to the report, Qatar’s mature financial services industry, coupled with national initiatives to support digitalization, access to capital and market opportunities, is setting solid ground for fintech to thrive.

Qatar’s fintech initiatives

Viewing fintech as potentially one of the biggest engines of Qatar’s future economic growth, the government has committed to helping establish a favorable environment for financial technology to develop.

This was formalized with the launch of the National Fintech Strategy by the Qatar Central Bank (QCB), an initiative that seeks to facilitate the growth of the fintech