His Excellency the Prime Minister Inaugurates 3rd Financial Sector Strategy
His Excellency Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, Prime Minister and Minister of Foreign Affairs, inaugurated the 3rd Financial Sector Strategy launched by the Qatar Central Bank, which aims to further develop the financial sector in Qatar as part of the Qatar National Vision 2030.
The inauguration ceremony started with an address delivered by His Excellency Sheikh Bandar bin Mohammed bin Saud Al Thani, Governor of the Qatar Central Bank, stating the launch of the 3rd Financial Sector Strategy is yet another chapter of excellence and success, enabled by a spirit of innovation and creativity and supported by the strong foundations of our national economy under the wise leadership of His Highness Sheikh Tamim bin Hamad Al Thani, the Amir of the State of Qatar.
His Excellency the Prime Minister and Minister of Foreign Affairs posted on X on this occasion, stressing that the 3rd Financial Sector Strategy is “a roadmap for achieving a sound & flexible financial system that supports sustainable economic growth.”
Today, we launched the #3rd_Financial_Sector_Strategy plan for the State of Qatar, which aims at innovation & diversification to enhance our country’s position as an advanced global center in the field of financial services. This plan is an extension of the first & second… pic.twitter.com/ZH9xQZWZcZ
— محمد بن عبدالرحمن (@MBA_AlThani_) November 27, 2023
The 3rd Financial Sector Strategy will contribute to identifying opportunities and overcoming challenges expected in the coming years by strengthening the financial sector, enhancing the growth of the national economy and achieving financial stability by establishing a robust and effective supervisory framework.
The Strategy is based on four basic pillars: the banking and insurance sectors, the digital financial services system and the capital markets. This strategy was designed to cover five common areas, namely:
1) Regulatory governance and oversight of the financial sector.
2) Promoting of Islamic finance, digital innovations and advanced technology.
3) Environmental, social and institutional governance.
4) Sustainability.
5) Talent and competencies.
The launch of the 3rd Financial Sector Strategy was attended by a number of ministers, senior officials as well as leaders in Qatar’s banking and financial sector.