Masraf Al Rayan and Qatar Financial Centre Authority Join Forces to Drive Fintech Innovation

Qatar, 10 June, 2024 : Masraf Al Rayan, a prominent Qatari bank, and Qatar Financial Centre Authority (QFCA) have inked a Memorandum of Understanding (MoU) to boost cooperation and mutual interests. This strategic alliance underscores their dedication to fostering innovation and supporting the growth of the fintech and digital assets sectors in Qatar and the wider region. The partnership will see both entities collaborate on various initiatives to drive innovation and growth across key areas.

Masraf Al Rayan will lend its sector expertise and thought leadership to the QFC's Digital Assets Lab and fintech initiatives. This collaboration will entail participating in knowledge-sharing sessions, workshops, and joint projects to spur innovation in fintech, digital asset technologies, Web 3.0, sustainability, and other relevant domains.

Moreover, the partnership aims to enhance the fintech capabilities of firms operating in these sectors. Masraf Al Rayan's "Innovation Lab" will oversee research, prototype development, and seeking innovative solutions within the fintech and digital assets ecosystem. Both parties will also ensure smooth operations and compliance with regulatory standards and best practices through technical collaboration.

Fahad bin Abdullah Al Khalifa, Group CEO of Masraf Al Rayan, expressed satisfaction with the partnership, emphasizing their commitment to fostering innovation and supporting fintech and digital assets growth. Yousuf Mohamed Al-Jaida, CEO of QFC, echoed this sentiment, highlighting the value of Masraf Al Rayan's expertise in advancing QFC's pioneering initiatives.

The MoU signifies a significant step forward in the collaboration between Masraf Al Rayan and QFC, aiming to elevate Qatar's financial landscape and drive sustainable growth locally and internationally.

Source : www.qfc.qa