The organisation is reportedly working with major stakeholders in the sector, such as European fintech platform B-Hive. This collaboration is expected to facilitate cooperation on several aspects pertaining to business opportunities and knowledge-sharing.

At the recently conducted fintech and blockchain panel discussion at the 5th Annual Information Security Conference, Henk J Hoogendoorn, managing director, Financial Sector Office, QFC discussed the growth of FinTech. The panel also featured Simon Ingham, SVP Enterprise Solutions, KYC Global; Dr Jaouad Al Khaliki, Founder, 30Tech; Nabil Ben Aissa, CEO QPAY and Bora Goknar, International Sales Manager, Cardtek.

Hoogendoorn said: “The QFC is already actively contributing to the national FinTech plan and will be a platform for international FinTech companies that want to be active in Qatar or nearby remittance markets. As part of our commitment to developing a FinTech hub, the QFC recently signed an MoU with Europe’s leading Fintech platform B-Hive, which will help facilitate co-operation on several aspects based on the promotion of business opportunities and knowledge sharing.”

During the session, the panelists debated trends, insights and approaches to the adoption of FinTech by the financial industry, how regulators can use FinTech effectively and the lessons learned and best practices from other regions that have made significant advancements through the use of the technology.

Hoogendoorn added: “We are witnessing a steady uptake of FinTech businesses in the Middle East, with the number of FinTech startups soaring to 105, from 46 between 2013 and 2015. The adoption of FinTech within Qatar’s financial sector will provide plenty of opportunities in areas such as Financial Inclusion. Additionally, about eighty per cent of FinTech is non-regulated so we can start working on important themes such as cyber security, data analytics, digital access and a cashless FIFA 2022.”