Qatar - Masraf Al Rayan has signed a memorandum of understanding (MoU) with Karty, a startup fintech company.

This strategic partnership represents a pivotal commitment by the bank to drive escalating advancements in the fintech sector and deliver innovative digital solutions.

Through this collaboration, Masraf Al Rayan will join forces with Karty, pooling their expertise and resources to enhance groundbreaking developments in the financial technology sector, redefine the industry based on global advancements, and empower individuals with the knowledge and tools to make informed financial decisions.

Rana al-Asaad, general manager of Retail and Private Banking at Masraf Al Rayan, said: “We are pleased to announce our strategic alliance with Karty, which perfectly aligns with our unwavering dedication to promoting innovation and delivering exceptional services to our esteemed clients. By combining our comprehensive expertise with Karty’s advanced technology, our goal is to enhance the future of the fintech sector. We are fully committed to introducing significant improvements that will positively impact the lives of individuals and customers.”

Mohamed Suleiman, co-founder of Karty, said: “This partnership represents a new chapter for Karty, and we are excited to embark on this journey with Masraf Al Rayan, a prominent bank in the financial sector.

“This collaboration is a significant milestone for Karty as we strive to empower individuals with the knowledge and tools to confidently manage their financial matters. We are confident that Masraf Al Rayan’s extensive expertise and resources will accelerate our growth and enable us to deliver even greater value to our clients.

By joining forces, we aim to drive fintech innovation, enhance customer experiences, and shape the future of the financial landscape.”

Dr Hamad Salem Mejegheer, executive director of Advisory and Incubation at Qatar Development Bank (QDB), said: “QDB’s Qatar FinTech Hub (QFTH) was established with an understanding of the immense scope of Qatar’s entrepreneurial potential and the importance of creating a supportive infrastructure to enable the growth of the homegrown startup ecosystem.

“It is encouraging to see how platforms such as Karty have been empowered through the support of QFTH to forge partnerships with local institutions and take the next step in their journey towards providing innovative, digital-first solutions. This is an uplifting and exciting development in the regional fintech landscape, and we thank Masraf Al Rayan for giving our rising startups the opportunity to fulfil their potential.”



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