News

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Qatar Islamic Fintech market to reach QAR 14.6 billion by 2027

Qatar’s Islamic Fintech market is projected to grow to QAR 14.6 billion (USD 4 billion) over the next three years, according to a recent Global Islamic Fintech (GIFT) report.

The report estimated that Qatar’s Islamic Fintech transaction volume was worth QAR 7.6 billion (USD 2.1 billion) in 2022/23. In addition, it noted that Qatar is home to 24 of the 417 Islamic Fintech firms identified globally....

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25/02/24

Qatar’s population hits 3 million as imports and exports rise

Qatars population reached the three million mark in January 2024, according to information released by the country`s Planning and Statistics Authority (PSA).

The exact population was recorded as 3,118,000, which represents a monthly increase of 5.1% from December of the previous year and an annual growth rate of 5.5% compared to January 2023. In comparison, Qatar`s population in January of the...

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18/02/24

Moody’s upgrades Qatar’s credit rating to AA2

Qatar`s credit rating has been upgraded to AA2 by Moody’s, who also revised the States outlook to stable based on Qatar’s positive financial metrics from 2021 to 2023.

Additionally, the trusted investors service also upgraded Qatar’s long term debt ratings in local and foreign currencies to Aa2 from Aa3. It also raised Qatar’s foreign currency medium term...

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10/02/24

Qatar committed to protecting personal data in age of AI

Qatar Financial Centre (QFC) recently organised a seminar entitled “Data Protection in the Age of AI” which coincided with International Data Privacy Day.

The event was held in collaboration with the American Department of Commerce and featured experts in data protection, legal professionals and speakers from the [US National Institute of Standards and Technology (NIST).

Discussions focussed...

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04/02/24

Qatar launches 2024 - 2030 National Development Strategy

Qatar`s cabinet recently approved the draft third National Development Strategy (NDS3) for 2024 -2030. The strategy, which closely aligns with the goals of the Qatar National Vision 2030, aims to to transform Qatar into an advanced State capable of achieving sustainable development and ensuring the welfare of its population.

In a bid to achieve this the National Development Strategy 3...

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28/01/24

Qatar’s tech sector boosts dynamic digital economy

Qatar is positioning itself as a central technological hub by connecting global stakeholders in advanced technology, artificial intelligence, entrepreneurship and innovation.

In a recent panel discussion entitled ‘Building a Digital Economy: Is Your Country Future Ready?’, experts highlighted the Global Launch of the 2023 Future Readiness Economic Index (FREI)....

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21/01/24

Invest Qatar launches Ai.SHA an AI GPT powered chatbot

Qatar`s Investment Promotion Agency Qatar (Invest Qatar) has partnered with Microsoft to develop Ai.SHA, an innovative AI-powered assistant harnessing GPT capabilities.

This groundbreaking initiative utilises the Azure OpenAI service and positions Invest Qatar as one of the first investment promotion agencies (IPA) in the world to adopt such advanced technology....

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14/01/24

Qatar Tourism lines up events alongside Asian Football Cup

Qatar is ready to welcome the world again as host of the AFC Asian Cup 2023. The much awaited event will be held from January 12 - February 10, 2024. Kick-Off coincides with various festivals and events organised by Qatar Tourism providing a packed schedule both pre and post match.

The event strategy supports Qatar`s goal of welcoming over six million visitors a year by 2030. Moreover, it aims...

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07/01/24

Qatar announces 2024 budget based on lower oil price assumption

Qatar recently approved its 2024 budget with revenue estimated to decrease 11.4% due to lower oil prices. The new budget aligns with the States plans to achieve economic diversification within the framework of the Qatar National Vision 2030.

As a result, there is considerable focus on development of human capital most notably...

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31/12/23

Qatar`s MoCI registers 40 new factories so far this year

Qatar has witnessed robust growth in its manufacturing sector after registering 40 new factories from January to September this year.

According to data recently released by the Ministry of Commerce and Industry (MoCI) there are currently 957 registered operating factories in the State and the amount of investment reached QAR 1.39 billion (USD 380 million) in 2023. Moreover, there were 487 permits...

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17/12/23

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