QDB, QNB renew partnership to foster innovation in fintech
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. 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.
Mr. Mohammed Al Emadi, QDB's Executive Director of Investments and Incubation, 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.
Mr. Adel Al Malki, Senior Executive Vice President, QNB Group Retail Banking, 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.
This partnership underscores QDB's commitment to a comprehensive strategy that supports the digital economy and strengthens the entrepreneurial ecosystem, in line with Qatar National Vision 2030, which seeks to build a diversified, sustainable, and knowledge-based economy. The agreement also aligns with QDB's strategic focus on digital transformation, empowering the private sector, and developing the entrepreneurial ecosystem—further solidifying Qatar's position as a regional hub for FinTech innovation.
About Qatar Development Bank (QDB)
Qatar Development Bank (QDB), previously known as Qatar Industrial Development Bank, was established in Qatar in 1997 by Emiri Decree No. 14 as a developmental organization with the primary objective of fueling industrial growth and driving the private sector's economic diversification. Over two decades of transformation, QDB has reinvented itself to become the main supporting arm for Qatar's private sector and a powerful catalyst for socio-economic development through three access-based pillars to SME and private-enterprise support: Access to Finance, Access to Markets, and Access to Capability.
The Bank's whole-journey support system covers various financing schemes and consultation services that include marketing, legal advice, booking, mentoring and development, grants and accreditation, and capacity-building platforms. This has allowed QDB to become the SME's growth partner from ideation to fruition, meeting their aspirations at every stage in order to compete at the national and global levels, while improving the economic development cycle and bringing the country closer to realizing its national vision for 2030.
Today, the Bank and its subsidiaries are building on Qatar's rich legacy of socio-economic achievements by taking a brave leap into the future and focusing on the digital transformation of the country's SME and business ecosystems to usher entrepreneurs and SMEs into the new economy, embrace emerging opportunities, and steadily transform QDB into a digital bank of the future and a lighthouse that leads the way for financial and developmental institutions across the region and beyond. For more information, please visit QDB.qa
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Business
an hour ago
- Arabian Business
AI in fintech market set to surpass $79bn by 2030 as adoption surges
Artificial intelligence (AI) has rapidly reshaped the fintech landscape in recent years, driving innovations across credit scoring, personalised banking, algorithmic trading, and fraud detection. As financial institutions race to automate and optimise operations, AI adoption continues to grow, fueling strong market forecasts for the coming years. According to data presented by the AI in fintech market is projected to more than double in value and surpass $79 billion by 2030. Fintech companies are increasingly turning to AI solutions to enhance speed, security, and personalisation in a competitive market. Artificial intelligence is helping to make processes faster and more cost-effective by spotting fraud, improving lending decisions, and offering more tailored banking services. With customer expectations rising and cyber threats evolving, AI has shifted from being a helpful tool to a necessity in fintech. The Statista and Research and Markets data show that just two years ago, the AI in fintech market was valued at $22.5 billion. Since then, it has grown by nearly 45 per cent and is projected to reach $32.2 billion in 2025. With tech companies increasingly adopting AI to improve workflows and services, the market is expected to grow by another $6 billion in 2026 and $8 billion in 2027, reaching more than $46 billion by 2027. Research and Markets further projects that global fintech market value will continue growing by an average of $10 billion per year, ultimately surpassing $79 billion by 2030. This marks a staggering 145 per cent increase in just five years, a growth rate 50 per cent higher than the projected five-year growth of the autonomous and sensor technology market and 40 per cent more than the expected growth of the computer vision segment during the same period. Beyond transforming internal operations, AI is also driving the overall growth of the fintech industry. According to a Statista Market Insights survey, the fintech industry is on track to reach more than $120 billion in value this year, a 16 per cent increase from last year and a 200 per cent jump since 2022. With AI automating tasks, enhancing security, and enabling smarter, faster, and more personalised financial solutions at scale, the market revenue is expected to grow by another 17 per cent, reaching over $141 billion by 2028.
Zawya
2 hours ago
- Zawya
Mubadala, e&, Shorooq back Dubai dining platform Qlub's $30mln funding
Dubai-based fintech Qlub has secured $30 million in a funding round jointly led by the UAE's Shorooq and Germany's Cherry Ventures. The round also saw backing from the UAE's Mubadala Investments, Abu Dhabi-listed e&, and Legend Capital of China. The new capital will fuel Qlub's international growth ambitions and enhance its digital product offerings. Founded in 2021 by Eyad Alkassar and Mahmoud Fouz, Qlub enables diners to scan QR codes to browse menus, order meals, and make payments directly from their smartphones. Qlub's platform is currently used in more than 3,000 restaurants across the UAE, Saudi Arabia, Singapore, Hong Kong, Australia, Brazil, Qatar, Kuwait, and South Korea. While no financial details were disclosed, the startup said it facilitates transactions 'worth several billion dollars annually and caters to millions of users each month'. (Editing by Seban Scaria
Arabian Business
3 hours ago
- Arabian Business
botim unveils new brand identity, user interface to expand fintech services
botim, Astra Tech's flagship fintech-first platform in the MENA region, has launched a refreshed brand identity and upgraded user interface as it seeks to expand its global user base of over 150 million. Initially built as a VoIP platform, botim has grown into a fintech-first, AI-native app by integrating financial features aimed at supporting its evolving user community. From January to May 2025, the platform recorded a 50 per cent increase in monthly active wallet users. Astra Tech's botim launches refreshed app design with fintech features The updated interface is designed to be faster and more intuitive, with a structure intended to simplify user interaction with its main services including payments, transfers, lending, and calling. Dr. Tariq Bin Hendi, Board Member at Astra Tech and CEO of botim, said: 'botim has always been a trusted platform for meaningful connection but is much more. With this update, we're reinforcing our position as a fintech-first platform, built on a foundation of secure VoIP, and designed with simplicity at its core. We've streamlined the experience to meet the needs of a growing user base that expects more not just from communication, but from the way they interact and manage their financial services as well.' The launch comes as the UAE's population reaches an all-time high of 11.22 million in 2025, according to Worldometer. botim is positioning itself as a platform for this growing community, combining communication and financial tools in a single solution. The app's evolution from a local service to a globally scalable product reflects growing demand for embedded financial services such as peer-to-peer transfers and lending. These services aim to support everyday financial needs of users regardless of location. botim's AI-native base supports features including real-time translation, smart call filters, and an interactive in-app chatbot. These tools are intended to support the needs of a multilingual user base. The redesigned interface is built around real user behaviour, allowing users to carry out actions such as payments, transfers, lending, and calling. Navigation has been restructured, with services segmented clearly to support ease of access for mobile-first users. The app is designed to adapt to different user profiles, from first-time users to VIPs. Financial tools can now be accessed directly within chat with one click. Enhancements in call quality and the AI chatbot are also part of the update. The new design offers greater responsiveness and clarity, structured to meet the needs of a growing, digital-first audience. This marks the beginning of a broader brand shift for botim. The platform plans to introduce a more integrated identity across its financial services, moving towards a connected fintech-first ecosystem.
