Qatar Central Bank Grants Sandbox Entry Approval To Madad Financial Technologies

2025-01-15 03:03:01

(MENAFN- The Peninsula) The Peninsula

Doha, Qatar: In line with the Third Financial Sector Strategy, the FinTech Strategy, and Qatar Central Bank's (QCB) efforts to develop and regulate the FinTech ecosystem in the country, the QCB has recently granted sandbox entry approval for Madad Financial Technologies.

Madad Financial Technologies offers an innovative Digital Invoice Discounting Marketplace designed specifically for Micro, Small, and Medium Enterprises (MSMEs).

This step highlights QCB's commitment to fostering the financial sector and advancing the objectives of the Third Financial Sector Strategy.

The central regulatory further pointed out that entry into the regulatory sandbox does not equate to full-scale licensing approval; however, the applicant is considered an Authorised FinTech Sandbox Participant for regulatory activities by the FinTech entity.

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