Qatar wants to join the CBDC race and start issuing digital bank licenses, said the QCB Head of the FinTech sector.
Qatar’s central bank plans to digitalize most of its products, including studying and potentially developing and launching a CBDC. One of the other directives from the institution involves issuing digital bank licenses.to The Peninsula at the 8th Doha Islamic Finance Conference, QCB’s Head of FinTech – Alanood Abdullah Al Muftah – outlined the organization’s new and digitalized direction. The bank has begun exploring various initiatives that will become clearer in the next few months.
“We’re trying to study the different aspects and verticals of fintech. We’re trying to set our direction. Each central bank should study digital banks, considering their growing significance in the global market.” The executive further asserted the bank’s intentions to head down the central bank digital currency road, similar to many other central banks.
However, Al Muftah said the QCB is still a long way away from being ready to launch such a product. As of now, the bank is still in research mode to determine whether and how a CBDC could impact the local monetary landscape. On the other hand, Narayanan Srinivasan, COO and Digital Officer at Dukhan Bank said during the same conference that his bank wants to establish a digital bank in Qatar. Additionally, they plan to employ blockchain technology for certain payment services.Aside from China, which has been among the global leaders in terms of CBDC development with multiple reported real-life tests, countless other nations have gone down that road in the past few years.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Germany clinches Qatar energy deal to reduce dependence on RussiaGermany and Qatar have reached a long-term energy partnership, a German official said on Sunday, as Europe's biggest economy seeks to become less dependent on Russian energy sources.
Leer más »
Ukraine conflict opens diplomatic and energy opportunities for QatarRussia's invasion of Ukraine has opened up diplomatic and commercial opportunities for gas exporter Qatar to expand energy sales to the West and bolster its alliance with Washington amid U.S. tensions with other Gulf Arab states.
Leer más »
Oceania Finally Starts Its Road To The Qatar 2022 World Cup... In Doha In 2022Fifteen countries have already qualified for the Qatar 2022 World Cup, but Oceania only started its qualification process on March 17. The 'road to Qatar' might be only a few days long for New Zealand, Tahiti, and the other six Oceania teams taking part, but it starts and ends in Doha.
Leer más »
Former Kentucky clerk Kim Davis violated rights of same-sex couples, judge rulesA federal judge has ruled that a former Kentucky clerk violated the constitutional rights of two same-sex couples who were among those to whom she wouldn't issue marriage licenses
Leer más »
Borenstein: A’s ballpark plan jeopardizes Oakland Port future growthWhy give up Howard Terminal, hundreds of millions of taxpayer dollars to subsidize billionaire team owner John Fisher?
Leer más »