Masraf Al Rayan and QFCA Sign MoU for Enhanced Co-Operation

Masraf Al Rayan and the Qatar Financial Centre Authority (QFCA) have signed a memorandum of understanding (MoU) for enhancing co-operation and mutual interests between the two parties.

This strategic alliance reflects the commitment of both Masraf Al Rayan and the QFC to innovation and supporting the growth of the fintech and digital assets sectors in Qatar and beyond.

Under this partnership, both parties will collaborate on numerous initiatives, leveraging their expertise to drive innovation and growth in key areas.

Masraf Al Rayan will contribute to the QFC's Digital Assets Lab and fintech initiatives through its extensive sector expertise and thought leadership in supporting and developing these initiatives.

The collaboration will include participation in knowledge-sharing sessions, workshops, and joint projects aimed at fostering innovation in fintech, digital asset technologies, Web 3.0, sustainability, and other relevant areas.

Under the supervision of Masraf Al Rayan's "Innovation Lab," this will include conducting research, developing prototypes, and seeking innovative solutions within the ecosystem of these sectors.

Additionally, both parties will leverage their expertise and technical collaboration to ensure smooth operations and adherence to regulatory standards and best practices.

The lender reaffirmed its commitment to fostering innovation and supporting the growth of the fintech and digital assets sectors.

"By combining our expertise and resources, we aim to create a positive impact and generate new opportunities for companies operating within the QFC ecosystem," said Fahad bin Abdullah al-Khalifa, group chief executive officer of Masraf Al Rayan.

The MoU marks a significant milestone in the relationship between Masraf Al Rayan and the QFC, as both parties work together to enhance the financial landscape and promote sustainable growth in Qatar and beyond.

"Their industry expertise and commitment to thought leadership will be invaluable in developing and promoting these pioneering initiatives. Together, we aim to foster innovation and position Qatar as a leading hub for digital assets and fintech solutions," said Yousuf Mohamed al-Jaida, chief executive officer of QFCA.