DOHA, QATAR – Qatar Financial Center Authority (QFCA) has signed separate memorandum of understanding with Bahrain FinTech Bay (BFB) and Partior on the sidelines of the Web Summit 2024.
QFCA is the legal and tax arm of the Qatar Financial Center (QFC), a leading onshore financial and business center in the region while BFB is Bahrain’s fintech ecosystem builder. Partior is the global unified ledger market infrastructure for clearing and settlement.
The MoU with Bahrain FinTech Bay establishes comprehensive frameworks for cooperation in joint research projects and organizing virtual sessions aimed at sharing knowledge and experiences to promote the fintech landscape in both countries.
Under the MoU, each entity shall provide support, assistance and resources to start-ups from both the QFC and BFB interested in expanding their businesses within each other’s territories.
They will also facilitate their access to co-working spaces in Bahrain and Qatar during business trips.
The QFC’s partnership with Partior sets the stage for close cooperation between the two organizations and will build on their collective strengths to drive positive change, promote innovation and create lasting impact.
Chief Executive Officer of QFC Yousuf Mohamed Al Jaida said, “The signing of these MoUs reflects QFC’s commitment to form strategic partnerships with global industry leaders to develop secure and sustainable financial infrastructure in Qatar.”
He said, “Through this cooperation, we aim to explore opportunities that would contribute to enhancing innovation and providing an enabling ecosystem for the growth and development of the fintech sector and companies working in this vibrant industry.”
Chief Operating Officer at Bahrain FinTech Bay Suzy Al Zeerah said, “Through these collaborations, we aim to facilitate joint research projects, organize virtual sessions and support startups, contributing significantly to the growth of the fintech sector in both countries.”
Chief Operations Officer at Partior Stella Lim said, “Our collaboration with the QFCA marks a significant milestone in our commitment to foster a resilient and innovative financial ecosystem in Qatar and the GCC region.”