Covid-19 considered as catalyst for new digital businesses in Qatar


Doha Bank recently hosted a webinar to discuss the impact of Covid-19 on the acceleration of the digital transformation driven by the financial sector.

The event titled “Digital Transformation & Changing Business Models” noted that 85 percent of the financial transactions of Doha Bank`s clients are made by digital means and 95 percent of the money transfers of Doha Bank’s customers are completed via mobile and internet banking services.

Digital disruption has an effect on every industry and as a result many business models have to be redefined. The fourth industrial revolution is reshaping the way people live, work and relate to one another. Everything is moving online and becoming smart.

The world is connected on a scale never seen before and this is changing the way business is carried out too. Living in an urban or rural environment matters very little as everything is information centric and no longer location dependent.

Digital transformation is very broad. It concerns any initiative to use technology to improve business processes and to better meet the needs of consumers.

Going digital is contributing to cost reductions allowing organizations to be more profitable. Further, it provides better and higher levels of service to consumers. For example, it has never been easier to have goods delivered to your home.

The event featured a number of promising start-ups and scale-ups including the latest e-commerce platform of Mzad Qatar, an online delivery platform known as Snoonu and Dibsy, a financial technology start-up with collection solutions (including pay by link, plug-ins, APIs and others).

The Ministry of Transport & Communication (MoTC) is working with the key stakeholders in the country (including Qatar Central Bank) to implement the most suitable policies, practices, regulations and systems for safety and security on the internet.

Please click on the link and reach out to learn more about the most recent developments in the State of Qatar and the initiatives of Business Start Up Qatar.

Other News

BSUQ News 1 - 16 Jan 22 - Thumb

Qatar’s trade surplus up 171 percent in November

Qatar’s foreign merchandise trade balance increased by 171 percent in November 2021 compared to November 2020 according to the latest figures released by the Planning and Statistics Authority...

Read more
BSUQ News 113 - Thumb

SCDL announces new tenders for 2022 FIFA World Cup

A webinar hosted by the Qatar Financial Centre (QFC) and titled “Exploring Tender Opportunities at the Supreme Committee for Delivery & Legacy” discussed the potential for businesses and projects related...

Read more
BSUQ News 112 - Thumb

Qatar to award a number of large-scale projects in 2021

The State of Qatar is expected to invest more than QAR 113.15 billion (USD 31 billion) into large-scale projects this year. The estimation is in line with the country’s QAR 47.45 billion (USD 13 billion)...

Read more
BSUQ News 111 - Thumb

LNG expansion will positively affect Qatar’s economic growth

Qatar’s plans to expand the Liquefied Natural Gas (LNG) capabilities and capacities promise a major boost to the growth of the national economy. The expansion results in a projected surplus between 2021...

Read more
BSUQ News 110 - Thumb

Qatar’s economic performance improved in first quarter

Qatar’s budget for the first quarter of this year was exceeded by QAR 200 million (USD 54.8 million). The surplus is partly related to the most recent increase in the oil prices, the level of budgetary...

Read more
BSUQ News 109 - Thumb

Investments in digital sector at all-time high in Qatar

Qatar has witnessed a lot of investment in the digital sector in line with the digital transformation of the country and the establishment of a knowledge-based economy as set out in the [Qatar National...

Read more
BSUQ News 108 - Thumb - Old

Qatar prepares for additional reforms to attract more FDI

With the world’s economy coming to a near standstill in 2020, economists from around the world have shared various analyses into how national economies will perform after this impasse related to the...

Read more
BSUQ News 107 - Thumb - Old

Qatar stakeholders continue to support SMBs and SMEs

The collaboration and cooperation of the public sector and the private sector will strengthen the position of the State of Qatar as a hub for business, trade and investment in the Middle East.


Read more

Page Break