Cooperation between Qatar and Hong Kong in Areas like Digital Commerce, Fintech will Strengthen Bilateral Relations, Doha Financial institution CEO Says

Dr. R Seetharaman, the CEO at Doha Financial institution, says that cooperation between Qatar and Hong Kong in key areas resembling digital commerce, supporting startups, and the event of Fintech platforms might strengthen bilateral relations between the 2 nations.

Seetharaman, whose feedback got here throughout a recently-held webinar, famous that Qatar and Hong Kong’s relations can develop into stronger as each nations proceed to help the Lusail Good Metropolis venture.

Seetharaman revealed that bilateral commerce between the 2 nations is valued at roughly $1 billion (in 2019). He confirmed that there are a number of MoUs which were signed between Hong Kong Particular Administrative Area (HKSAR) authorities, InvestHK, and the Hong Kong Basic Chamber of Commerce (HKGCC) and the Qatar Monetary Heart Authority (QFCA).

As reported by The Gulf Occasions, these MoUs goal to strengthen the cooperation between the nations on many various initiatives together with Fintech growth and adoption.

Yousuf Mohamed al-Jaida, the Chief Government at Qatar Monetary Heart, not too long ago acknowledged that the nation goals to leverage the potential of the Fintech sector by working with different Asian nations, together with Bangladesh, India, Pakistan.

The latest webinar, which went over “Bilateral and Synergistic Alternatives Between Qatar and Hong Kong,” additionally included feedback from Wenda Ma, assistant principal economist, Hong Kong Commerce Improvement Council. Ma talked concerning the “Qatar and Hong Kong: Commerce and Funding Relationships and Alternatives,” in the meantime, Alan Lee, regional director, Enterprise Improvement-The Government Centre, mentioned numerous actual property methods that may work nicely as we deal with COVID-19.

As reported, the Qatar Fintech Hub continues to obtain purposes, because the nation prepares for a cashless, knowledge-based digital economic system.

Qatar’s cellular fee firm SkipCash, which relies within the Qatar Monetary Heart (QFC), is planning to diversify its companies and in addition goals to serve abroad markets. SkipCash has joined Visa’s Fintech quick monitor program, which can permit the Fintech agency to seamlessly combine with Visa and leverage the attain, capabilities, and safety of VisaNet, the fee big’s international fee community.

SkipCash shall be providing numerous cellular fee options (in-app purchases, on-line help, and POS). It can additionally subject bodily and digital Visa playing cards, and facilitate card-to-card transfers.

Mohamed Abdulaziz al-Delaimi, co-founder and MD at SkipCash, remarked:

“This may assist us transcend cellular funds, and even past the native market.”