As part of its ongoing efforts to modernise and develop the country’s financial sector, the Qatar Central Bank (“QCB”) has issued the Distributed Ledger Technology (“DLT”) Guidelines (“Guidelines”) aimed at regulating the use of DLT in the financial sector.
The Guidelines create a regulatory framework for financial institutions encouraging the use of DLT to ensure transparency and security in financial transactions. DLT will offer a more secure record of financial transactions and allow for instantaneous settlement while reducing the need for financial intermediaries. This, in turn, will increase efficiency, lower costs, and streamline transaction processes.
Introducing the Guidelines is another part of the QCB’s efforts to technologically enhance Qatar’s financial sector and aligns with Qatar’s Third National Development Strategy and Qatar National Vision 2030.
The Guidelines can be found here: https://www.qcb.gov.qa/en/Pages/FinancialTechnology.aspx
