The Ministry of Commerce and Industry (MoCI) has announced a strategic partnership with Ooredoo Fintech, a subsidiary of the Ooredoo Group, aimed at simplifying financial processes for companies, particularly small and medium-sized enterprises (SMEs).
This collaboration integrates with the Ministry's Single Window platform, part of its efforts to support the growth of the private sector and facilitate business operations.
In a statement Wednesday, MoCI highlighted that this partnership allows entrepreneurs and investors to open accounts with Ooredoo Money and benefit from a comprehensive range of financial services. These services include commercial wallets, the Wage Protection System (WPS), and bulk payment services.
The initiative aims to empower SMEs to manage their financial resources more efficiently through flexible and secure payment solutions, thereby supporting their expansion and sustainable growth.
Assistant Undersecretary for Industrial Affairs and Business Development at MoCI, Saleh bin Majid al-Khulaifi, emphasised that this partnership reflects the Ministry's commitment to supporting the business environment and enhancing the competitiveness of the private sector. He noted that the collaboration addresses the needs of SMEs by providing them with flexible financial solutions that facilitate their commercial transactions, improve financial management, and increase growth opportunities. Through cooperation with Ooredoo Fintech, the Ministry aims to provide advanced tools that support business sustainability and strengthen the investment climate in Qatar.
Assistant Undersecretary for Commerce Affairs at MoCI, Ayed Menahi al-Qahtani, highlighted that this partnership is part of the Ministry's efforts to support the digital transformation of the business environment. He stressed the Ministry's focus on providing an advanced business environment by facilitating access to digital financial services and enabling companies to conduct transactions quickly and efficiently.
Through the Single Window platform, companies will be able to utilise innovative financial solutions that accelerate their commercial operations and enhance their financial stability, he pointed out.
The Single Window platform offers a wide range of electronic services, including company registration, issuance of commercial licenses, and completion of various government transactions. This simplifies procedures and improves the business environment in the country. The platform provides users with a seamless and fast experience, offering services around the clock in both Arabic and English. It delivers over 30 main services encompassing 149 sub-services, integrated with 17 different entities in the state, in addition to electronic signature services.
Ooredoo Fintech, established in 2022, aims to empower individuals and companies in the Middle East and North Africa region by providing integrated digital financial solutions. Its services include low-cost money transfers, mobile payments, prepaid cards, and loyalty and reward programmes, all of which contribute to facilitating financial operations and promoting financial inclusion.
Officials at the agreement signing ceremony
