Qatar Central Bank (QCB) has introduced new artificial intelligence (AI) guidelines for financial institutions in the country, aligning with the Third Financial Sector Strategy and the FinTech Strategy.
“The introduction of AI technologies represents a pivotal opportunity for financial institutions in Qatar. By harnessing AI, these institutions can innovate and develop cutting-edge products and services that satisfy the customers’ needs and align with global standards and best practices,” QCB noted.
AI’s benefits include improved operational efficiency, faster service delivery, and an enhanced customer experience, which collectively lead to higher satisfaction with financial services.
AI can also help reduce operational costs and improve transaction transparency. Its capability to detect fraudulent activities boosts security and strengthens the competitiveness of Qatar’s financial markets both regionally and globally.
QCB has affirmed its commitment to initiatives that drive the growth of the fintech sector, elevate operational efficiency, and inspire innovation in financial and banking services, all in line with Qatar National Vision 2030.