Islamic Fintech in Qatar Stands to Benefit from E-Commerce Potential in the Country

According to the Qatar Financial Centre (QFC), e-commerce sales in Qatar are estimated at over USD 3.2 billion by 2022, up from USD 1.3 billion reported in 2017. E-commerce penetration in the country more than doubled to 37% in 2019 from 15% in 2018. Given this growth potential, the QFC believes that Islamic financial technology (Fintech) has an opportunity to benefit from e-commerce development in Qatar.

Why it matters?

With traditional financial institutions curbing lending to small and medium enterprises (SME), opportunities are open for digital banks and alternative lenders to offer customised financial facilities such as trade credit lines and payment management facilities. According to the QFC, SMEs are expected to source up to...