Qatar Central Bank grants licenses to 'Buy Now, Pay Later' service providers

Reuters Images

QCB outlined that it will receive the applications for licenses in September

Staff Writer, The Peninsula

August 6, 2023

PHOTO

Doha: Qatar Central Bank (QCB) has urged companies that are willing to operate the buy now, pay later (BNPL) system to submit applications in order to receive the license from the bank.

In a statement on Saturday, QCB outlined that it will receive the applications for licenses in September, pointing out that all instructions pertaining to applications can be found on QCB's official website.

The announcement comes to regularize the work of BNPL's service providers in Qatar, in conformity with the financial sector strategy and QCB's constant endeavor to regularize and upgrade the financial sector in the country.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.