{"id":418024,"date":"2022-03-18T15:35:00","date_gmt":"2022-03-18T12:35:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/qatar-exploring-digital-banks-and-central-bank-digital-currencies\/"},"modified":"2022-03-18T15:35:00","modified_gmt":"2022-03-18T12:35:00","slug":"qatar-exploring-digital-banks-and-central-bank-digital-currencies","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/qatar-exploring-digital-banks-and-central-bank-digital-currencies\/","title":{"rendered":"# Qatar exploring digital banks and central bank digital currencies"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3d508e399c4\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3d508e399c4\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/qatar-exploring-digital-banks-and-central-bank-digital-currencies\/#%E2%80%9D_Qatar_exploring_digital_banks_and_central_bank_digital_currencies_%E2%80%9C\" >&#8221; Qatar exploring digital banks and central bank digital currencies &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Qatar_exploring_digital_banks_and_central_bank_digital_currencies_%E2%80%9C\"><\/span>&#8221; Qatar exploring digital banks and central bank digital currencies &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvZmI5N2Y3ZDMtNjhkYy00YWEwLWE2YmItYzUzODY1ZjNiNzRkLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>The Qatar Central Bank (QCB) is reportedly investigating the possibility of launching a digital currency and issuing digital bank licenses.\u00a0<\/p>\n<p>According to the head of the fintech section at QCB, Alanood Abdullah Al Muftah, the central bank is <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/thepeninsulaqatar.com\/article\/16\/03\/2022\/qcb-studying-digital-currencies-and-digital-banking-official\">expected<\/a> to set a direction for its future focus soon on a range of fintech verticals.\u00a0<\/p>\n<p>Al Muftah noted that QCB will also determine whether Qatar can establish a central bank digital currency (CBDC). She explained:<\/p>\n<blockquote><p>&#8220;Each central bank should study digital banks, considering their growing significance in the global market. We also see the direction of the market moving towards having a digital currency. However, it&#8217;s still being studied whether we&#8217;re having a digital currency or not.&#8221;<\/p><\/blockquote>\n<p>While commenting on Qatar&#8217;s regulatory sandbox, Al Muftah said that three firms in the payments sector are currently testing solutions with the central bank. She also stated that the QCB is considering other firms interested in utilizing the regulatory sandbox.<\/p>\n<p>A regulatory sandbox is a space in which fintech firms can test new products, services, business models, and delivery mechanisms in a real-world setting while benefiting from an accelerated authorization process and supervisory monitoring.<\/p>\n<p>Private Qatari bank Dukhan Bank, meanwhile, is examining the possibility of creating a digital bank in Qatar, its chief operations and digital officer Narayanan Srinivasan told The Peninsula. However, Srinivasan warned that his institution would only build a digital bank after a better understanding of its economics. As per the report, Dukhan Bank is also considering blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> in the payments sector.<\/p>\n<p><strong><em>Related:<\/em><\/strong><strong><em> <\/em><\/strong><strong><em>The Philippines to launch pilot CBDC implementation<\/em><\/strong><\/p>\n<p>Although private virtual currencies like Bitcoin (BTC) have grown in popularity and followers, government-backed CBDCs, frequently regarded as an antithesis to private cryptocurrencies, have been accelerating rapidly. According to data from the Atlantic Council, as of June 2019, 87 nations are currently developing their own digital currency, with only 14 having completed the pilot phase. Nine countries have already implemented a CBDC. .<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/qatar-exploring-digital-banks-and-central-bank-digital-currencies\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Qatar exploring digital banks and central bank digital currencies &#8220; The Qatar Central Bank (QCB) is reportedly investigating the possibility of launching a digital currency and issuing digital bank licenses.\u00a0 According to the head of the fintech section at QCB, Alanood Abdullah Al Muftah, the central bank is expected to set a direction for&#8230;<\/p>\n","protected":false},"author":1,"featured_media":418025,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvZmI5N2Y3ZDMtNjhkYy00YWEwLWE2YmItYzUzODY1ZjNiNzRkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74894,75046,74891,89067,71511,71957,70934],"class_list":["post-418024","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-blockchain","tag-cbdc","tag-ethereum","tag-sandbox","tag-government","tag-qatar","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/418024","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=418024"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/418024\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/418025"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=418024"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=418024"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=418024"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}