Qatar Central Bank Governor outlines multifaceted approach to financial technology

At Carnegie Mellon Qatar lecture, H.E. Sheikh Abdulla Bin Saoud Al-Thani outlines opportunities and challenges facing the development of the Islamic fintech industry

DOHA, QATAR– During a lecture hosted by Carnegie Mellon University in Qatar (CMU-Q), His Excellency Sheikh Abdulla Bin Saoud Al Thani, Governor of Qatar Central Bank (QCB), outlined the challenges and opportunities facing the development of Islamic financial technology amid global and regional economic uncertainties.

CMU’Q’s Dean Michael Trick noted: “Sheikh Abdulla provides an important perspective for our students, especially those who are studying business administration, computer science and information systems. The area of fintech is transforming the global economy, and our students have tremendous opportunities to harness technological tools and create ways for international finance to be more efficient, profitable, and secure.”

Al-Thani noted that some of the challenges facing fintech startups include a reticence from the finance industry to adopt new technologies, a need to modify the behaviors of users, and a limited access to funding. At the same time, these challenges also present opportunities for growth in the MENA region.

He noted that the Middle East accounted for only 1.8% of global fintech investments over the past five years. As of 2016, the MENA region was home to only 105 fintech startups.

While CMU-Q offers undergraduate programs in biological sciences, business administration, computational biology, computer science, and information systems, all students are encouraged to reach across disciplines for projects, research and study. This interdisciplinary climate has inspired several alumni teams to pursue careers in entrepreneurship, including in the area of fintech.

For more information on programs offered at Carnegie Mellon Qatar, please visit: https://www.qatar.cmu.edu/academics