Qatar Central Bank issued "Electronic Know Your Customer" instructions to organize and develop the customer identification process

The Qatar Central Bank has released "Electronic Know Your Customer" guidelines to streamline and advance the client identification procedure, according to a recent social media post. This was put into effect in accordance with financial technology (Fintech) and financial sector strategies, and it was founded on the Qatar Central Bank's ongoing efforts to govern and grow the nation's financial industry.

The need to adhere to eKYC guidelines is reaffirmed by the Qatar Central Bank to improve financial sector security and transparency as well as to guarantee that guidelines on preventing money laundering and funding of terrorism are followed. In an effort to improve the safety and security of the financial industry, "Electronic Know Your Customer" guidelines give financial institutions across the nation the chance to remotely confirm the identification of their clients utilising identity data and contemporary technology. Through these processes, people may also electronically and remotely verify who they are without having to be physically there.

The Central Bank of Qatar is eager to offer worthwhile and successful programmes that will cultivate an atmosphere that is conducive to the advancement and expansion of financial technology inside the nation.