Qatar-based leading Islamic bank, Masraf Al Rayan has signed a memorandum of understanding (MoU) with a startup fintech company, Karty in order to provide fintech services.
This strategic partnership represents a pivotal commitment by the bank to drive escalating advancements in the fintech sector and deliver innovative digital solutions.
Under the collaboration, Masraf Al Rayan will join forces with Karty, pooling their expertise and resources to enhance groundbreaking developments in the financial technology sector, redefine the industry based on global advancements, and empower individuals with the knowledge and tools to make informed financial decisions.
Commenting on this strategic alliance Masraf Al Rayan General Manager of Retail and Private Banking Mr. Rana Al Asaad said that, “We are pleased to announce our strategic alliance with Karty, which perfectly aligns with our unwavering dedication to promoting innovation and delivering exceptional services to our esteemed clients. By combining our comprehensive expertise with Karty’s advanced technology, our goal is to enhance the future of the fintech sector. We are fully committed to introducing significant improvements that will positively impact the lives of individuals and customers.”
The strategic partnership between Masraf Al Rayan and Karty paves the way for a transformative journey towards reshaping the fintech industry. The focus will be on developing revolutionary solutions, leading in new technologies, and empowering users to achieve financial well-being.
Mr. Mohammed Suleiman, Co-founder of Karty, noted that “this partnership represents a new chapter for Karty, and we are excited to embark on this journey with Masraf Al Rayan, a prominent bank in the financial sector.”
“This collaboration is a significant milestone for Karty as we strive to empower individuals with the knowledge and tools to confidently manage their financial matters. We are confident that Masraf Al Rayan’s extensive expertise and resources will accelerate our growth and enable us to deliver even greater value to our clients. By joining forces, we aim to drive fintech innovation, enhance customer experiences, and shape the future of the financial landscape,” Mr. Suleiman added.