The Qatar Central Bank (“QCB”) has announced its strategy for 2024-2030 (“Strategy”) aimed at achieving the Third National Development Strategy objectives. The Strategy sets out the QCB’s goals to advance the future of Qatar’s financial sector, and enhance financial stability, transparency, inclusion, and excellence in banking practices.
The Strategy sets out five core values:
- Integrity: which will serve as QCB’s identity
- Excellence: which represents QCB’s pledge to achieve leadership at the local, regional, and global levels
- Innovation: through which the strategic goals will be achieved
- Sustainability: which will ensure the resilience of the financial sector
- Inclusion: which reflects QCB’s commitment to its duties
Building on these values, the Strategy establishes four pillars for the financial sector:
- Financial resilience and soundness created through effective supervision, maintaining financial stability, safeguarding customer interests, and being prepared to tackle various challenges
- Market development and product diversification strengthening financing and supporting economic transformation
- Digital transformation and payments, including advancing digital transformation, optimising data management in the financial sector, and upgrading payment infrastructure
- Research and international collaboration, focusing on advanced research and analytics while fostering collaboration on financial and economic issues
Including over twenty-five key initiatives, more than 200 projects, and aiming to deliver over 15 outcomes, the Strategy represents a holistic approach to innovation and sustainable development that strengthens the financial sector. The Strategy also focuses on advancing financial technology, market development, and creating new opportunities for innovation.
