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qatar's fintech sector thrives with government support and digital innovation initiatives
Qatar's financial sector is rapidly evolving, driven by government initiatives like the Third Financial Sector Strategic Plan and the Qatar Fintech Strategy 2023, which aim to enhance innovation and efficiency. Key developments include a surge in digital payments, the rise of embedded finance through open banking, and advancements in blockchain technology, with the Qatar Central Bank exploring digital currency opportunities. The Qatar Fintech Hub is also fostering startup growth, with over 50 fintech companies supported and a focus on creating a fully digital economy.
Qatar to fully implement UPI enhancing digital payments for Indian tourists
Qatar is set to fully roll out India's Unified Payment Interface (UPI), enhancing digital transactions for the Indian diaspora. The integration with Qatar National Bank is complete, and the ambassador highlighted a $10 billion investment commitment from Qatar in various sectors, including fintech. This follows a partnership established eight months ago, allowing Indian tourists to use UPI across QNB's merchant network.
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