As part of its Financial Sector Strategy, Fintech Strategy, and its ongoing regulation and development of Qatar's financial sector, the Qatar Central Bank ("QCB") has issued its Cloud Computing Regulations ("Regulations"). The Regulations seek to regulate the use of cloud computing in the financial sector, and to protect financial data while also promoting digitisation and innovation.
By establishing the regulatory framework for the country's financial institutions and Fintech companies, the Regulations encourage them to develop and improve smart solutions in the financial sector by complying with information security and data protection requirements utilising a risk-based approach for cloud adoption and management.
The Regulations also support Qatar's Third National Development Strategy which aims to promote the digital economy and facilitate the adoption of new technologies and innovations in the financial sector.
The regulations are available on the QCB website in both Arabic and English.
Originally published on April 30, 2024
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