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Qatar Central Bank plans to adopt fintech and blockchain solutions

Monday 11 May 2020 14:25 CET | News

Qatar’s central bank (QCB) has proposed a strategic plan to support venture capital funding and the development of SMEs, which involves fintech and blockchain implementation. 

The Qatar Development Bank (QDB), a local bank that provides financial services, banking, and loans for the development of major industries, has launched several programmes that offer financing to SMEs. The QDB aims to improve credit access and will help SMEs in taking part in the country’s evolving economy, based on the QCB’s plans to adopt blockchain or distributed ledger technology (DLT) and fintech solutions, according to crowdfundinsider.com.

Blockchain tech is now well-known, globally. It can streamline payments, back-office operations, risk management, and improve record management and transaction reporting. The QCB is focused on exploring various DLT use cases, and the potential impact the technology could have on the country’s businesses.

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Keywords: Qatar Central Bank, QCB, Qatar Development Bank, QDB, fintech, blockchain, SME, venture capital funding, distributed ledger technology, DLT, transaction reporting, MENA
Categories: Banking & Fintech
Companies:
Countries: Qatar
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Banking & Fintech






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