Financial technology companies in Qatar aim to improve the delight of visitors by offering more money available. Fintech solution providers are helping to enable greater monetary inclusion, reduce operating prices and provide greater application security, according to Burak Zatiturk, head of monetary at PricewaterhouseCoopers (PwC). Katar.
In an interview with the Gulf Times, Zatiturk said the sukuk market (an initiative for the “improvement and development” of the Islamic money market) has led to the expansion of sharia-compliant currency in the country. will now take Qatar much faster and more successfully than before.
Fintech solutions, blockchain or distributed ledger generation, and mobile banking can make Islamic finance accessible to small businesses without requiring too many adjustments to existing sukuk contracts and other classic Islamic products. The Genuine Market These programs deserve to also help to help the expansion of the Islamic money sector in the country.
The Central Bank of Qatar and the Qatar Financial Center continue to support projects to expand the country’s fintech sector. These organizations seek to raise public awareness of the benefits of using fashionable monetary services. They also worked in cooperation with foreign fintech regulators and actors for Qatar’s Economy.
Several fintech incubators and acceleration projects have been launched. These systems adapt to a vital component of Qatar’s monetary generation ecosystem. Programs are also start-ups and start-ups by offering them or getting the resources they want to grow their business. we also collaborate with local universities, monetary establishments and regulators.
In response to a question about the ability of Qatari banks to adapt to adjustments resulting from the COVID-19 epidemic, Zatiturk noted:
“Effective decision-making and coordination of monetary sector stakeholders are essential, enabling organizations to cope with [economic uncertainty]. The digital transformation has accelerated as Qatari banks invest in generation and regulators to allow new services. “
Zatiturk added that virtual invoices and the use of contactless credit cards increase the pandemic and mentioned that the country’s money service providers are improving their infrastructure to be able to handle more online transactions.
Zatiturk added:
In our experience, this advanced business architecture allows the industry to adapt to the new normal. The acceleration of virtual transformation also attracted foreign investment from the pandemic, mainly from foreign generation giants, which increased their investment in Qatar.