QFC Signs Pact With QNB To Drive Innovation in Banking and Financial Sector

The Qatar Financial Centre (QFC) and QNB on Wednesday entered into a memorandum of understanding (MoU) to drive innovation in the banking and financial sector.

Through this MoU - signed between Yousuf Mohamed al-Jaida, chief executive officer of the QFC Authority (QFCA) and Abdulla Mubarak al-Khalifa, QNB Group chief executive officer - QNB will act as an incubator for emerging opportunities in digital assets, tokenisation, and embedded finance; while the QFC serves as a referral mechanism, connecting new fintech firms with the bank.

"This MoU marks a significant milestone for QFC and QNB, reinforcing our shared commitment toward positioning Qatar as a regional financial hub," al-Jaida said after signing the pact on the final day of the Web Summit 2025.

Through this partnership, both the entities aim to drive innovation in banking services and financial solutions while accelerating the growth of fintech and alternative financing models in the country.

In addition, the agreement would see the introduction of relevant VC (venture capital) funds and their respective portfolio companies to the local market, expanding funding options for local startups and fintech companies.

"Through this dynamic, we can advance the development in these sectors, in line with the third financial services sector strategy. I am looking forward to adding lasting value to our stakeholders and Qatar's financial sector through this partnership," al-Jaida said.

The QFC's pact with QNB comes in the wake of digital assets framework, which was last year launched by the QFCA and the QFC Regulatory Authority in line with the Third Financial Sector Strategy issued by the Qatar Central Bank (QCB).

The framework – a comprehensive and innovative regime for the creation and regulation of digital assets in the QFC, paving the way for companies to offer token services – sets high standards for the process of asset tokenisation and puts in place a trusted technology infrastructure that will ensure trust and confidence among consumers, service providers, and industry stakeholders.

The development of the framework, which is one of the important goals established by the Third Financial Sector Strategic Plan, provides not only legal recognition of smart contracts but also establishes legal and regulatory foundation for tokenisation, a key tool to protect sensitive data.