Qatar’s QFC Authority & Google Cloud to build new innovation platform

By Shilpa Annie Joseph, Official Reporter
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QFC Authority_Google Cloud Partnership
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The Qatar Financial Centre Authority (QFCA), the legal and tax arm of the Qatar Financial Centre (QFC), has signed a Memorandum of Understanding (MoU) with Google Cloud to build an innovation platform and advance the continued growth of Qatar’s tech ecosystem.

The two organizations will collaborate to encourage cloud technology adoption by fintech companies, consulting and technology firms, banks, and financial institutions.

“Drawing on Google Cloud’s global network and capabilities both organizations together with QFC’s clients and the wider industry intend to collaborate in sectors like artificial intelligence, data science, blockchain, and so on to accelerate innovation and digital transformation,” as per the statement.

Yousuf Mohamed al-Jaida
Yousuf Mohamed al-Jaida
CEO – QFC Authority

“We are proud to embark on this new collaborative effort with Google Cloud and to drive business transformation for clients across banking, capital markets, insurance, and emerging technologies. Financial services, including fintech, are one of QFC’s areas of focus, and we are delighted to expand our offering through industry-specific solutions under QFC’s umbrella. Together with Google Cloud, we aim to integrate innovation culture and technology into mainstream business practices to achieve sustainable economic development for Qatar in line with our national development goals.”

Mr. Ghassan Kosta, Qatar Country Manager, Google Cloud, said that, “Google Cloud provides industry-tailored solutions that help businesses digitally transform and benefit from cloud adoption. We are developing a digital platform for the Qatar Financial Centre where fintech companies will have the opportunity to build applications, set up digital services, and provide innovative products to their customers.”

“Google Cloud is also bringing its highly secure infrastructure through the cloud region, which is planned to open in Doha, where more businesses in Qatar will be able to benefit from fast, reliable, and resilient cloud services,” Mr. Kosta added.

QFC and Google Cloud have also launched an educational program for QFC clients, including enrolling fintechs into Google’s Center of Excellence (CoE) for Cloud Digital Leader and Associate Cloud Engineer certifications.

These training sessions provide insights into Google’s approach to digital transformation, guiding participants on how to embrace cloud-enabled technology in every aspect of their businesses, as per the statement.

Related: Qatar’s Alfardan Group digitizes its business processes with Google Cloud