FinTech Supervision Department

The FinTech Supervision Department is tasked with regulating QCB licensed FinTech companies. Its responsibilities include issuing policies and regulations governing the services provided by FinTech companies, and updating them as necessary. One of the Department’s primary roles is conducting onsite and offsite inspections to ensure that companies comply with all regulatory instructions of QCB, monitoring and documenting violations. Additionally, the Department is responsible for analyzing the FinTech companies’ financial data, and issuing periodic reports accordingly. Furthermore, the Department maintains ongoing collaboration with licensed FinTech companies, receiving and reviewing their requests and responding to them.

The Policy and Regulation Section within the FinTech Supervision Department is tasked to ensure that sound regulatory requirements are in place for FinTech’s, that prevent harm, reduce risks, and foster innovation in the market. Hence, the Section focuses on issuing the policies and regulations required to regulate the conduct of FinTech’s and FinTech activities. Moreover, through research and analysis of global best practices and international guidelines the Section continually strives to set better regulatory standards and promote competition and innovation.

The On-Site Inspection Section within the FinTech Supervision Department plays a crucial role in insuring that FinTech companies comply with regulations. The Section responsibilities include conducting on-site visits to assess the company’s operations, reviewing compliance with laws and regulations issued by Qatar Central Bank, identifying potential risks and recommending any necessary corrective actions.

The Off-Site Inspection Section in the FinTech Supervision Department specializes in systematically collecting and analyzing data and information related to the FinTech sector and translating them into financial and statistical indicators that is crucial for supervision and regulation. The Section monitors and evaluates the growth and development of the FinTech sector, ensuring its safety and efficiency. Additionally, it assesses the impact of the sector's growth on economic and social aspects within the country. The Section also plays a vital role in identifying risks and potential weaknesses in the FinTech sector and taking preventive measures to mitigate them.

The Requests and Approvals Section within the FinTech Supervision Department is tasked with receiving and reviewing correspondence from FinTech companies. It acts as an intermediary between these companies and the Qatar Central Bank, handling inquiries about regulatory matters and resolving any complaints they may have, while also seeking solutions.

The Data Analytics and Reporting Section within the Fintech Supervision Department specializes in preparing periodic reports on a quarterly and annual basis. These reports focus on analyzing the key performance indicators of licensed FinTech companies. Through data analysis, risks are identified, and necessary recommendations are provided. Additionally, the section is responsible for preparing the financial data and indicators