Skip to main content

Qatar issues first digital payment licenses to fintech providers

Qatar as well as Saudi Arabia and the UAE are seeking to bolster their fintech sectors.
A man looks at his phone on the corniche in the Qatari capital Doha on July 2, 2017.

Qatar’s Central Bank granted the first-ever digital license payments in the country today.

The bank issued the licenses to Ooredoo Money and Vodafone Qatar’s iPay so they can provide digital payment services. The Central Bank hopes to oversee all companies providing digital payment services in an effort to “contribute to the development of the financial technology sector,” according to a statement. 

Access the Middle East news and analysis you can trust

Join our community of Middle East readers to experience all of Al-Monitor, including 24/7 news, analyses, memos, reports and newsletters.


Only $100 per year.