The Qatar Central Bank (“QCB”) has issued the much-awaited Buy Now Pay Later (“BNPL”) Regulations (“BNPL Regulations”) following the launch of its FinTech Strategy earlier this year. While BNPL products and services are currently being offered in Qatar, albeit on a limited scale, through licensed financial institutions in Qatar, the BNPL Regulations seek to regulate the provision of BNPL products and services via separately licensed BNPL service providers.
The BNPL Regulations are in effect from 6 August 2023.
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