The Qatar Central Bank (QCB) has granted sandbox entry approval to Madad Financial Technologies.
The approval was granted in line with the Third Financial Sector Strategy, the Fintech Strategy, and the QCB's efforts to develop and regulate the fintech ecosystem in the country.
Madad Financial Technologies offers an innovative digital invoice discounting marketplace designed specifically for micro, small, and medium enterprises (MSMEs).
This step highlights QCB's commitment to fostering the financial sector and advancing the objectives of the third financial sector strategy.
However, QCB said the entry into the regulatory sandbox does not equate to full-scale licensing approval; rather the applicant is considered an authorised fintech sandbox participant for regulatory activities by the fintech entity.
