Qatar Central Bank Official Highlights Fintech Potential to Transform Financial Industry.

Doha: Qatar's commitment to fintech advancement and digital transformation was underscored by Sheikh Ahmed bin Khaled Al-Thani, Assistant Governor for Financial Instruments and Payment Systems at Qatar Central Bank and Chairman of the Board of Directors at Edaa. He emphasized the country's recognition of the potential of Distributed Ledger Technology (DLT) and digital assets to shape the future of the financial industry. According to Qatar News Agency, Sheikh Ahmed bin Khaled Al-Thani delivered a speech at the Network Forum for the Middle East region, which was organized by Edaa in Qatar. He stated that since the launch of Qatar's FinTech Strategy, the nation has made significant progress in digital transformation across various sectors. This strategic positioning aims to make Qatar a leader in the adoption of innovative financial technologies. Regulatory guidelines for solutions like Buy Now, Pay Later (BNPL), Crowdfunding, and eKYC have been introduced to establish a robust framework for new digital produc ts and services. He also highlighted the goal of cultivating a thriving fintech ecosystem in Qatar, which seeks to attract both startups and established companies to innovate and expand within the Qatari market. These initiatives are closely aligned with Qatar National Vision 2030 and Qatar Central Banks' 3rd Financial Sector Strategy, aiming for an innovative, diversified, and sustainable economy. Sheikh Ahmed noted the growing interest of international investors in the GCC region, drawn by its stability and strategic opportunities. He emphasized efforts to ensure that Qatar's financial infrastructure meets global standards, particularly by modernizing systems to shorten the settlement cycle, thus maintaining Qatar as a competitive market. He further elaborated on the role of innovation in capital markets, highlighting the importance of Central Securities Depositories (CSDs) in maintaining financial system integrity. By leveraging technologies like Artificial Intelligence (AI), Qatar aims to enhance its p ost-trade infrastructure, improve trade monitoring, detect fraud, and optimize regulatory compliance. These advancements are expected to streamline services, improve risk management, and deliver reliable outcomes for investors. Sheikh Ahmed also mentioned the increasing interest in securities lending and digital custody, emphasizing the need for strong frameworks to manage risk and ensure the security of digital assets.