QFC and Commercial Bank of Qatar to support fintech and digital asset firms

The Qatar Financial Centre (QFC), an onshore financial and business centre, and Qatar’s Commercial Bank (CB) have signed an MOU to facilitate access to banking services for QFC based firms including a framework for collaboration in fintech and digital assets including those developing and testing tokenization projects in QFC’s Digital Assets Lab.

Commercial Bank will design a customized banking offering for QFC firms and their employees, providing relevant products and services to eligible parties, including immediate banking services to newly licensed firms.

The agreement also establishes a framework for collaboration in fintech and digital assets. This includes joint ecosystem engagement, events and hackathons to drive fintech innovation, as well as the development and testing of tokenisation opportunities through QFC’s Digital Assets Lab. The partnership also provides for the collaborative hosting of workshops throughout the year, giving QFC-licensed firms access to financial expertise and market insights.

Commenting on the MoU, Mansoor Rashid Al-Khater, Chief Executive Officer, QFC, said, “This collaboration delivers tangible value for Qatar’s business community and the broader economy, while reinforcing our commitment to an efficient and supportive environment for businesses operating within the QFC. By working with Commercial Bank, we are creating a more straightforward pathway for our firms to access the banking solutions they need to grow with confidence.”

Stephen Moss, Group Chief Executive Officer, Commercial Bank added, “This agreement with Qatar Financial Centre reflects our shared commitment to strengthening Qatar’s position as a leading financial hub, while making it easier for companies to do business. By streamlining onboarding and enhancing digital connectivity, we are enabling firms and their employees to operate with greater ease, reinforcing our role as a trusted banking partner.”