H.E. Sheikh Abdulla Bin Saoud Al-Thani, Governor Qatar Central Bank, convened a briefing session with the GCEL Delegation on January 30 in Doha. The purpose of the session focused on how GCEL’s global Digital Economy initiative can transform Qatar’s banking industry and assist to realize Qatar national economic development objectives.
Qatar’s Central Bank has implemented policies to improve the depth and quality of Qatar’s financial systems towards achieving Qatar’s National Vision 2030 objectives. These objectives include development of a competitive and diversified economy as well as securing a higher standard of living for all its people. This is where the GCEL’s initiative can help achieve these goals.
GCEL presented the synergies of its Digital Economy initiative to support Qatar’s National Vision 2030. These synergies include digitizing Qatar’s economy and it trade partners, advance its services industries and transform Qatar from a predominantly natural resource country to a financial regional hub. Hence, Qatar can lead the delivery of innovative digital financial services.
GCEL’s initiative provides digital tools for Qatar to increase its GDP by nearly 150%. This can occur by reducing Qatar’s excess trade costs by USD 11 billion, increasing goods trade by USD 12 billion, and growing its services industry by USD 70 billion to create nearly 500 thousand jobs by 2030.