Qatar Development Bank (QDB), represented by the Qatar FinTech Hub (QFTH), has signed a strategic cooperation agreement with the Global Finance & Technology Network (GFTN), an initiative by the Monetary Authority of Singapore (MAS).
The QDB-GFTN agreement establishes a long-term framework for collaboration in policy innovation, ecosystem enablement, capacity building, and the exchange of knowledge and best practices in financial technology.
Abdulrahman bin Hesham Al Sowaidi, CEO of QDB and Chairman of the Qatar FinTech Hub, and Sopnendu Mohanty, Group CEO of GFTN, signed the agreement at the Singapore FinTech Festival, one of the largest global gatherings dedicated to financial technology and innovation.
According to the statement, the QDB-GFTN agreement endorsed the establishment of a Center of Excellence and Support for FinTech in Doha, serving as a dynamic platform that energizes the FinTech community locally and regionally.
The center will work to deliver strategic insights and pioneering research on transformative financial technologies and their impact on markets, from Africa and Central Asia to the Gulf Cooperation Council countries.
It will further contribute to strengthening collaboration between regulators, financial institutions, and innovators to develop inclusive and forward-looking policy frameworks that support emerging economies, in addition to advancing capacity building through specialized training programs, knowledge transfer, and dedicated workshops across the financial sector.
The QDB-GFTN agreement also stipulated collaborating and coordinating on establishing a Qatar FinTech Forum in the future, to serve as an annual international FinTech event held as an extension of the Singapore FinTech Festival, aimed at advancing the future of financial technology in Qatar and the region.
Advancing Qatar’s Vision 2030 Through FinTech Innovation
Abdulrahman Hesham Al Sowaidi CEO – QDB Chairman – Qatar FinTech Hub
“Our partnership with the Global Finance & Technology Network reflects our deep commitment to positioning the State of Qatar as a global center of excellence for financial innovation. This aligns with the objectives of the Third Financial Sector Strategic Plan and the Qatar FinTech Strategy led by Qatar Central Bank. At Qatar Development Bank, we spare no effort in empowering entrepreneurs, stimulating investment, and building integrated ecosystems that transform vision into high-impact ventures. Through this partnership, benefiting from GFTN’s global expertise in policy innovation and digital transformation, we aim to build on the strong momentum the country is witnessing in developing local FinTech capabilities, attract world-class innovators to Qatar, and strengthen the financial ecosystem to serve as a bridge connecting local capacity with global opportunity.”
“This QDB-GFTN partnership builds on Qatar’s robust digital infrastructure and thriving business environment, which have witnessed remarkable progress in recent years. We believe it will play a pivotal role in driving sustainable growth in the FinTech sector, supporting economic diversification efforts, and advancing the long-term ambitions of Qatar National Vision 2030,” Al Sowaidi added.
For his part, GFTN Group Chief Executive Officer Sopnendu Mohanty said that, “Qatar’s bold innovation agenda provides fertile ground for global collaboration. GFTN brings to this partnership the collective intelligence of our global network connecting more than 130 market regulators, investors, and innovators to help design scalable solutions for Qatar and the MENA region.”
Mohanty further noted that, “Together with QDB’s deep commitment to entrepreneurship, innovation, and national capacity building, we are creating a platform that connects capital, policy, technology, and talent into an engine for accelerated and inclusive digital growth across MENA.”
