QCB set to launch instant payment system next year, says assistant governor

QCB set to launch instant payment system next year, says assistant governor

QCB assistant governor (Financial Instruments and Payment Systems) Sheikh Ahmed bin Khalid al-Thani addressing Qatar Investment Conference, organised by The Business Year. PICTURES: Shaji Kayamkulam







The Qatar Central Bank’s (QCB) instant payment system is expected to be operational by early next year, according to a top official.“By the beginning of next year, we are hoping to launch our instant payment system,” QCB assistant governor (Financial Instruments and Payment Systems) Sheikh Ahmed bin Khalid al-Thani told Qatar Investment Conference 2023, organised by The Business Year.With this and other digital initiatives, it would bring new era for innovation and transformation of the country’s financial services sector, he said, indicating that the QCB is open to global and regional collaboration with fintechs, venture capitalists and other players as it builds on this system, especially in the light of future digital assets.Qatar is contemplating legal recognition of digital assets as part of efforts to