Doha, December 02 (QNA) – In line with the Third Financial Sector Strategy, the Fintech Strategy, and the Qatar Central Bank’s ongoing endeavor to regulate and develop the financial sector and enhance digital transformation, Qatar Central Bank has issued the Regulatory Framework for Digital Banks to regulate the digital bank activities in the country.

Qatar Central Bank emphasizes the importance of this Regulatory Framework as it is an integral part of its efforts to enhance digital innovations and technological initiatives in the financial sector, supporting the country’s journey towards a digital economy.

Digital banks represent an important step toward enhancing financial inclusion, offering innovative banking services that meet the needs of individuals and businesses with ease and efficiency.

These banks stand out by providing comprehensive services through online platforms and mobile applications at all times, enabling customers to carry out their financial transactions anytime and anywhere.

With advanced technology, digital banks offer speed and security in financial operations, in addition to reducing operational costs, allowing for more cost-effective and efficient services.

The Regulatory Framework for Digital Banks further enhances these advantages, benefiting customers and contributing to sustainable development.

Qatar Central Bank remains steadfast in its commitment to fostering leading and valuable initiatives by providing the necessary infrastructure and legislative support for the growth of the financial technology sector in the country, supporting companies within this sector to introduce innovative solutions, drive sectoral development, and enhance operational efficiency and innovation in banking services, in line with Qatar National Vision 2030.

The Regulatory Framework can be viewed on the Qatar Central Bank’s official website. (QNA)