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FinTech : Qatar Financial Centre Hosts Fintech 2017

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02/07/2017 | 11:35pm CEST

Doha, February 07 (QNA) - The Qatar Financial Centre (QFC) Authority hosted its first Fintech event of 2017 in collaboration with the global strategy consultancy firm, Roland Berger.

The session which was held in QFC's headquarters, attracted business and financial professionals from Qatar's public and private sector. It aimed to identify and explain the key trends in the financial services sector and clarify how financial technology or Fintech is disrupting current practices and creating a completely digitalized method of banking and financing.

Speaking at the event, Kamal Naji, QFC Authority's Chief Strategy and Business Development Officer highlighted how Fintech has transformed the financial services industry over the past few years. He stated: "Now more than ever before, the financial industry is relying on cutting-edge technology and technological innovation to provide its consumers with the highest levels of service.

For so long, the financial industry refrained from resorting to technology as it continued using traditional methods to manage assets, provide commercial and retail loans, raise funding and transfer money. All of this is now changing across the globe." He added: "In the UK, reports show that the 11 leading start-ups in the robo-advice space currently manage over US$15.7 billion in client assets." 

The event concluded with a group discussion on the different methods and uses of bringing the power of Fintech to bear in Qatar and how these methods would benefit and strengthen the local economy and provide additional support for SMEs. This event comes as part of the QFC's continuous efforts to develop human capital as a driver for economic growth and prosperity in line with Qatar National Vision 2030. (QNA)

(c) 2017 Qatar News Agency 2016. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (€)
Sales 2017 105 M
EBIT 2017 29,1 M
Net income 2017 19,4 M
Debt 2017 13,9 M
Yield 2017 -
P/E ratio 2017 13,55
P/E ratio 2018 11,31
EV / Sales 2017 2,64x
EV / Sales 2018 2,26x
Capitalization 264 M
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Frank Niehage Chief Executive Officer
Martin Korbmacher Chairman-Supervisory Board
Muhamad Said Chahrour Chief Financial Officer
Stephan Simmang Chief Technology Officer
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