Qatar: QCB approves five companies as first cohort for BNPL service

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Qatar Central Bank has approved Spendwisor Inc, Qaiver FinTech LLC, HSAB for Payment Solutions, Mihuru LLC, and Pay Later Website Services

Staff Writer, The Peninsula

April 29, 2024

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Doha, Qatar: In line with the Third Financial Sector Strategy, the Fintech Strategy, and Qatar Central Bank’s commitment to regulate and develop the financial sector and enhance the FinTech ecosystem in the country, QCB has carefully reviewed Buy Now Pay Later (BNPL) submitted applications against multiple dimensions and has approved 5 companies as a first cohort, which are Spendwisor Inc, Qaiver FinTech LLC, HSAB for Payment Solutions, Mihuru LLC, and Pay Later Website Services.

It is important to note that entry into the regulatory sandbox does not constitute a full-scale licensing approval; however, the applicant is considered an Authorized FinTech Sandbox Participant for regulatory activities by the fintech entity.

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