QCB grants licences to ‘buy now, pay later’ service providers

QCB

The 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.