This project examines, reviews, and proposes a complete suite of legal reforms specifically for the Qatari financial services sector that address and support the significant global advances in digital technology. The project is in direct alignment with the QNRF identified priority themes of examining the impact of blockchain technology on financial transactions, secured distributed ledger technology (DLT) applied to industry and the diversification of the Qatari economy. The project will build local capacity to implement a resilient and responsive legal framework that is efficient and globally competitive in the economy of the 21st century. Financial technology (FinTech) and regulatory technology (RegTech) are revolutionizing global financial services. Important financial infrastructure areas such as currency, payment systems and clearing services are all being disrupted by the advent of a new generation of digital developments such as blockchain.
Qatar is an emerging regional financial hub that is seeking to diversify and enhance its economic system. Adopting specific rules, laws and regulations that encourage and support Fintech and RegTech will equip the Qatari financial services sector to be the engine of a dynamic and innovative economy for the 21st century. By bringing world leading expertise together with Qatar based researchers, this project will significantly contribute to the realization of Qatar Vision 2030, the stated goals of the National Development Strategy (NDS) 2017-2022 and the Second Strategic Plan for the Financial Sector launched by the Qatar Central Bank in December 2017.
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