CHAIRMAN: DR. KHALID BIN THANI AL THANI
EDITOR-IN-CHIEF: PROF. KHALID MUBARAK AL-SHAFI

Business / Qatar Business

QCB announces launch of Express Sandbox

Published: 31 May 2024 - 01:05 pm | Last Updated: 31 May 2024 - 01:09 pm

QNA

Doha, Qatar: In line with the Third Financial Sector Strategy, the FinTech Strategy, and Qatar Central Bank’s (QCB) ongoing efforts to regulate and develop the financial sector, Qatar Central Bank proudly announces the launch of the “Express Sandbox”. The first of its kind in the Middle East.

The Express Sandbox is an expedited programme designed to facilitate quicker market entry for solutions or innovations that demonstrate product readiness and potential. It offers a faster track through the usual regulatory assessment while maintaining high standards of risk management, consumer protection, and system integrity.

Financial institutions, licensed FinTech companies, startups, and technology companies partnered with licensed financial entities (both domestic and international) can apply for the Express Sandbox programme to test and introduce their FinTech innovative solutions in the Qatari market.

Entities that succeed in joining the Express Sandbox will benefit from a reduced testing period, rapid testing cycles, and a streamlined overall evaluation process.