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Corporate | November 22, 2021

Telco Leader Signs Agreement with Major Qatari Financial Institution

Doha, Qatar

Ooredoo has announced it has signed a partnership with Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, to leverage joint experience, expertise, and capabilities to further extend and develop collaboration between the two entities.

The partnership incorporates a number of initiatives planned for the coming years, with a clear focus on areas of joint interest between Ooredoo and Qatar Financial Centre.

Sectors in which these initiatives will be rolled out include digital innovation, smart cities, fintech, cybersecurity API, cloud solutions, Blockchain, payment gateways and software and algorithm development. The formalised relationship with QFC will enable Ooredoo to partner with, or invest in, suitable QFC companies in these sectors.

The partnership will also include cross-promotion of both entities’ programmes, initiatives and incentives in a move that will help attract new companies and start-ups to engage in economic activities in Qatar, as well as enabling mutual exchange of information on selected matters such as access to QFCA-licensed firms and Ooredoo’s vendors – within the relevant legal frameworks – in order to promote both parties’ value propositions to these firms.

To further enhance collaboration, the two entities will organise and support joint events, webinars, and seminars on selected topics of mutual interest, both in Qatar and further afield.

Completing the partnership is the provision of an assistance programme to new and existing QFC firms in terms of access to QFC incentives and Ooredoo’s support and network. This programme will include access to an Accelerator Programme, the provision of special rates on products and services and the building of Minimum Viable Products with selected Fintech companies.

Sheikh Mohammed Bin Abdulla Al Thani – Chief Executive Officer at Ooredoo – said: “I am delighted to confirm this exciting partnership with such a respected financial institution as Qatar Financial Centre. We share ethics, values and strategic goals, and the partnership will enable both entities to further our business interests in Qatar and further afield. Digital innovation and transformation – and in particular smart cities, digital financial innovation and cybersecurity – is a clear area of focus for Ooredoo as part of our corporate strategy, and this important partnership with QFC will further drive our progress on our strategic journey to complete digitalisation.”
Yousuf Mohamed Al-Jaida – Chief Executive Officer of Qatar Financial Centre – said: “QFC is keen on establishing durable partnerships, and firmly believes that it is key to creating a sustainable and knowledge-based economy. With Ooredoo playing an important role in Qatar’s development journey over the past decades, there is no doubt that this partnership will generate several benefits to both organisations, but more importantly, to members of Qatar’s business ecosystem. Our agreement today with Ooredoo is another step forward towards our collective efforts to advance Qatar’s business environment and help create a more competitive economy.”