Qatar Islamic Bank (the QIB) signed a memorandum of understanding with PayLater, a Qatari company specialized in the field of financial technology and the “Buy Now, Pay Later” (BNPL) service. This cooperation aims to provide a compatible “Buy Now, Pay Later” (BNPL) service. With the provisions of Islamic Sharia for customers and merchants in Qatar, in addition to providing flexible financing solutions that enhance financial inclusion and support the growth of the digital economy in the country.
By integrating the bank’s financial expertise with PayLater’s advanced technology, the collaboration will offer seamless payment options, allowing shoppers to make purchases with installment service and supporting merchants in expanding their customer base.
Mr. Basil Jamal, CEO of the QIB Group, said: “The cooperation with PayLater represents a strategic achievement within the bank’s goals to bring about change in financial services by integrating innovation and accessibility, in line with the Qatar Central Bank’s strategy to support cooperation between banks and companies.” Financial technology. We are proud to be one of the first banks to provide support to Qatari startups specialized in the field of technology in line with the Qatar National Vision 2030. By collaborating with PayLater in the field of financial technology, we are working to enhance our services through customized solutions focused on… Customers, empowering individuals and creating new growth opportunities for merchants, proving our role as a leading digital bank.”
“Buy Now, Pay Later (BNPL) is changing the way shoppers manage their money while offering merchants new ways to grow their business,” said Mohamed Al-Dulaimi, CEO of PayLater. The memorandum of understanding with the bank strengthens partnerships between financial technology companies and banks to create customer-focused solutions and develop the financial landscape in Qatar.”
