Doha – Local and international experts in the Qatari capital, Doha, discussed yesterday, Tuesday, the latest trends and visions in the trade and treasury sector, as well as digital transformation in the field of banking transactions, and the role of this shift in providing innovative and smart solutions in the fields of criticism and payment, within the work of the Qatar Summit for the Transformation and Treasury 2025, which aims to enhance innovation and digital development in the State of Qatar.
Participants in the summit emphasized that integrating digital transformation with entrepreneurship and financial and banking systems would contribute to building a strong base for bold investments and expanding the prospects of global partnerships, while stressing the importance of regional cooperation in promoting Qatar’s competitiveness at the commercial level.
The summit activities, which are held for the first time in Qatar, opened Sheikh Khalifa bin Jassim bin Muhammad Al Thani, President of the Qatar Chamber and President of the International Chamber of Commerce – Qatar, in the presence of a group of major businessmen, and a number of experts and prominent speakers from all over the world.
In his opening speech, Sheikh Khalifa pointed out that the summit convenes reflects the commitment of the State of Qatar to invest in the knowledge economy, and places it in the ranks of the leading countries in this field, in a strategy based on innovation, efficiency and flexibility.
He stressed that the summit represents a platform for open dialogue and explicit debate in the future of trade and financing, as it exceeds the theoretical aspects of the executive aspects, in order to achieve concrete benefit for institutions and societies, and it is enhanced by the conviction that the private sector is the most capable of setting global business standards that contribute to the development of the financial and commercial sectors.
Over the course of a full day, the summit dealt with several major axes discussion sessions, including:
- The future of commercial financing
- Islamic finance
- Environmental, social and institutional governance
- Sustainable cabinet
- Payments across the border
Technological infrastructure
For his part, Mohamed Al -Obaidli, a member of the Board of Directors of the Qatar Chamber, stressed that the integration of digital transformation with entrepreneurship and banking and financial systems represents an important pillar to build a strong investment base and promising global partnerships. He pointed out that regional cooperation plays an important role in enhancing Qatar’s competitiveness’s competitiveness.
He added that the State of Qatar was able to establish its position as an influential global commercial center, and increased its economic effectiveness as a major partner in international trade and investment, with a number of mechanisms, most notably:
- Legislative and organizational reforms.
- Adopting policies to diversify energy sources.
- Promoting sustainability.
- Infrastructure and logistical development.
Al -Obaidli pointed to the remarkable progress made by the state in the fields of technological infrastructure, the development of the telecommunications sector, the use of Internet technologies for things (IOT) and artificial intelligence (AI), and the adoption of blockchain technology in safe decentralized commercial transactions and supply chains management, as well as focusing on leadership, innovation and research and development strategies, in line with Qatar National Vision 2030.
Legislation and laws
In turn, Mubarak Al -Sulaiti, Chairman of the Board of Directors of Al -Sulaiti Lawyer and Legal Consulting Company, spoke about the legal and legislative environment for business in Qatar, stressing that laws and legislations are an essential part of the trade and business system, and contribute directly to stimulating economic activity.
Physical trade and money movement
In a special statement to Al -Jazeera Net, Fahd Abdel Rahman Badar, Executive Director General and Head of Comprehensive and International Banking Services at the Commercial Bank in Qatar, said that the world today is witnessing an unprecedented acceleration in the movement of trade and the development of the digital economy, which makes the relationship between physical trade and the movement of funds more interconnected and influential than ever.
He explained that the success of any contemporary commercial environment requires the existence of a flexible and fast financial system in response to the requirements of the global market, stressing that facilitating financial flows, providing trade financing tools, and providing advanced banking services is no longer just a supportive component, but has become a fundamental component in the commercial process.
Badar pointed out that this transformation imposes the necessity of developing economic legislation in an acceleration in line with the pace of changes in the markets, considering that there is an urgent need for flexible and effective mechanisms that allow reviewing and updating laws to suit the requirements of modern trade, with the importance of involving the private sector as a basic partner in formulating these trends to ensure their application in practice and realistic.
Driving procedures
He added that strengthening the business environment in Qatar requires a comprehensive digitization of commercial and financial procedures, because of this role in reducing time periods, reducing costs, and increasing transparency, which are fundamental elements to enhance national economic competitiveness.
He noted that Qatar has made an advanced way in this field, which makes it in the ranks of developed countries that focus on digital and technological transformation, and set the appropriate legislative frameworks for that.
He explained that the size of the Qatari economy and its central administration gives the ease of interaction between government agencies and the public and private sectors, which was reflected in facilitating the implementation of digital services, noting that the next challenge lies in accelerating the pace of change, and creating an integrated environment that keeps pace with growth and turns money into a driving force for the economy, and not an obstacle to it.
Smart technology sector
For his part, he said Professor of Economics at Doha University of Science and Technology Fadi Abu Dawood, Qatar is one of the major powers in the energy sector, especially in the fields of oil and gas, but today it focuses on a more increase in the strengthening of the Fintech and smart technology sector, which is a basic pillar of the global digital transformation.
He pointed out that this field has become a pivotal element in the modern economic structure, and gives Qatar a strategic opportunity to establish its position as an advanced financial and technological center in the region. He explained that smart payment solutions contribute to accelerating financial transactions, reducing dependence on cash, enhancing transparency and safety, which improves the consumer experience, supports the business sector, and encourages the entry of global financial technology companies to the Qatari market, taking advantage of the advanced digital structure and organizational framework in support of innovation.
He also pointed out that the universities in Qatar have begun to pay increasing interest in teaching financial technology, given the fact that this sector represents the future of the digital economy, pointing out that the current technological developments enable companies to grow and expand on a global scale, by linking markets and networks to a manner that was not possible before.
