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3 months ago
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Doha, February 25 (QNA) - Qatar Development Bank (QDB) signed a partnership agreement with Qatar National Bank (QNB) on the sidelines of the Web Summit Qatar 2025.
The partnership will entail the launch of an accelerator program aimed at fostering innovation in FinTech and promoting collaboration with QNB Group.
In a press release issued Tuesday, QDB said that the agreement focuses on accelerating the adoption of FinTech through specialized programs managed by Qatar FinTech Hub, the QDB arm responsible for FinTech initiatives.
The program will identify key use cases and opportunities that require innovative fintech solutions, and offer the necessary support and guidance to attract and empower promising startups to develop such solutions.
The program will also assist startups in accessing markets and navigating licensing processes.
For its part, QNB will play a crucial role in identifying challenges and opportunities in the fintech industry, providing technical expertise and a secure environment to test these solutions, while exploring investment opportunities in high-potential ventures.
Commenting on the agreement, QDB’s Executive Director of Investments and Incubation Mohammed Al Emadi said the partnership represents a strategic step forward in the bank’s ongoing efforts to support Qatar’s fintech ecosystem and empower entrepreneurs to develop innovative solutions that align with the rapidly evolving sector and the fintech strategy led by Qatar Central Bank.
"Supporting innovation is a key pillar of QDB’s strategy.
We believe in creating an environment that fosters creativity and innovation, particularly in financial technology, where we aim to excel by strengthening integration between financial institutions and startups," Al Emadi noted.
In turn, Senior Executive Vice President of QNB Group Retail Banking Adel Al Malki said: "At QNB, we are committed to driving innovation and contributing to the development of Qatar’s digital ecosystem.
Our partnership with Web Summit Qatar 2025 reflects our shared vision with QDB to advance technological progress and unlock new growth opportunities in local and regional markets across various industries.
"By formalizing this agreement, both parties aim to attract cutting-edge global financial technology solutions, draw international entrepreneurs to Qatar, stimulate investment in startups, increase FinTech adoption, and enhance private sector participation in the ecosystem. (QNA)
