Doha – Al-Raya:

Officials emphasized that Qatar’s national financial technology strategy continues to accelerate the growth of the business of local and international financial technology companies, noting that the financial technology sector in the State of Qatar is full of opportunities, as it is a pillar to achieve economic diversification in the State of Qatar.

This came during the Qatari American Business Council’s hosting of yesterday’s virtual session, entitled: “Financial Technology Industry and Growing Business Opportunities in the State of Qatar” in coordination with the Embassy of the State of Qatar in the United States of America and the Organization of FinTEx , and the panel included prominent speakers from the public and private sectors of the state Qatar and the United States of America, in which: Mr. Nasser Ibrahim Al-Lingawi, Consul General of the State of Qatar to New York, Mr. Abdulaziz bin Nasser Al Khalifa, CEO of Qatar Development Bank, Mr. Youssef Mohamed Al-Jaidah, CEO of Qatar Financial Center, and Ms. Amy Noyukkas, founder and CEO of Qatar Anthemes, Mr. Randy Rivera, CEO of FinTEx , and Mr. Mohamed Barakat, Executive Director of the Qatar-American Business Council.

Mr. Fahd Al-Dossary, Commercial Attaché at the Embassy of the State of Qatar to the United States of America, said: “The economy of the State of Qatar is one of the most stable economies in the world. A year for companies operating in free zones.

He added: “All government agencies in the State of Qatar and under the wise leadership of His Highness Sheikh Tamim bin Hamad Al Thani, the Emir of the country, are committed to supporting the investment of the United States of America in the region and turning the State of Qatar into a center of financial technology in the Middle East region.”

Strong growth

Mr. Youssef Mohamed Al-Jaidah, CEO of the Qatar Financial Center, stressed that Qatar National Financial Technology Strategy continues to accelerate the growth of the business of local and international financial technology companies in the State of Qatar, and the Qatar Financial Center has long recognized that the financial technology sector in the State of Qatar is full of opportunities, That supporting the growth of this sector is essential to achieving economic diversification in the State of Qatar.

Al-Jaidah pointed out that the Corona Virus (Covid-19) crisis not only highlighted the importance of technology in general and financial technology in particular, but also the need to accelerate the adoption and development of these technologies.

Al-Gaida stressed that every effort will continue to be made to enhance and develop the technology and financial technology infrastructure in the State of Qatar so that the center will have a real supportive platform, along with the aspiration to see more international financial technology companies including America, and help them integrate easily into the booming Qatari market. Through the licenses offered by the QFC to financial technology companies, along with many other benefits.

In addition to granting licenses to financial technology service providers that allow any financial technology company to access the burgeoning Qatari market, the Qatar Financial Center will soon launch Fintec Circle, a joint workspace in which qualified financial technology companies can register for free for 12 months. Which will enable local communities and talent in the field of financial technology to reach out to large institutions and companies in this field and to enhance mutual cooperation between them.

Attractive investment environment

For his part, Mr. Abdulaziz bin Nasser Al Khalifa, CEO of Qatar Development Bank, stated that the bank’s launch of the “incubator” and “accelerated” programs for financial technology is an important step for Qatar Development Bank, as this program will contribute to strengthening the position The State of Qatar as a leading global center in the field of financial technology and creating a vital environment attractive to global investors, especially from the United States of America.

He explained that this achievement comes as part of the broad and comprehensive framework of the State of Qatar and its continuous endeavor to provide a distinguished environment for business and entrepreneurship, as the State of Qatar ranked among the list of the top twenty countries that have undertaken reforms related to developing their business and investment environment, and also ranked first in the Middle East and North region Africa in the Global Entrepreneurship Index.

He pointed out that, in line with the Qatar National Financial Technology Strategy, Qatar Development Bank announced the launch of the Financial Technology Incubator Program (for early startups) and the Financial Technology Accelerator Program (for mature startups) in cooperation with Ernst & Young and MEDIC , where the two programs will support entrepreneurs in The financial technology sector locally and globally looking for a launch pad to accelerate their growth within a healthy business environment with a focus on key priority areas such as, payment solutions, solutions for medium and small enterprises, Islamic financial technology and organizational technology, and as part of these two programs, entrepreneurs in the field of financial technology will be able From obtaining the necessary guidance and training from a team that includes globally prominent mentors from more than ten countries, as well as obtaining financial and organizational support to start their business.

In turn, Mr. Randy Rivera, CEO of FinTEx , stressed that the organization works closely with many international organizations to link talent with opportunities, and what Qatar has achieved in this field is an attractive platform not only for financial technology companies, but also for the Qatari market and the Middle East in general.

For her part, Ms. Amy Noeukas, founder and CEO of Anthems, expressed her belief that the State of Qatar provides a promising environment and opportunities for the growth of financial technology.

Mr. Mohamed Barakat, Executive Director of the Qatari-American Business Council, stressed that the State of Qatar has provided a wonderful model of cooperation between its bodies in its endeavor to become a leading center for financial technology, expecting the technology sector in Qatar to grow rapidly.