Qatar Financial Centre Authority (QFCA), the legal and tax arm of the Qatar Financial Centre (QFC), signed an MOU with Doha Bank, one of the largest commercial banks in Qatar for fintech innovation including the growth of Qatar’s digital asset ecosystem.
The MoU outlines a collaborative framework in three strategic areas that include driving growth in Qatar’s fintech and digital asset ecosystem through joint research, prototype development, and the introduction of innovative financial solutions. The MOU also seeks to support fintech companies through technical guidance, facilitating secure banking relationships, and streamlining account opening processes.
Finally the two entities will establish a program for regular engagement, including quarterly meetings, joint workshops, and knowledge-sharing sessions, to explore new opportunities and ensure the continuous development of the ecosystem.
Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC, commented on the significance of the MoU, stating, “This partnership with Doha Bank is a stride towards positioning Qatar as a leading hub for fintech and digital assets. Together, we will strengthen the foundations for innovation that enable fintech companies to grow with confidence and support the development of technological solutions that will define the future of financial services.”
Highlighting the importance of collaboration in advancing innovation, Sheikh Abdulrahman bin Fahad bin Faisal Al Thani, Group CEO, Doha Bank, said, “Globally, the banking and financial industry is undergoing major transformations. This highlights the importance of collaboration at the institutional level to drive the development of innovative financial solutions in Qatar and keep pace with these ongoing changes. Our agreement today reflects our shared commitment to advancing financial technologies and innovation within an enabling, inclusive, and comprehensive ecosystem.”
In September 2024, Qatar announced its digital assets or token regulations. The Central Bank of Qatar, Qatar Financial Authority, as well as the QFC regulatory authority released the regulations that would allow for tokenization of real world assets not including cryptocurrencies or stablecoins. This comes after Qatar had announced its DLT regulations, as well as launched its Digital Assets Lab.
In 2025, QFC CEO during the Qatar Economic Forum, alluded to the fact that stablecoins could soon be included in their tokenization plan.
The same was recently noted in Saudi Arabia during the FII Summit.
As such more banks in the region are starting to take notice of the role digital assets will play in the financial sector. We have already seen
