Doha, July 30 (QNA) - Qatar Central Bank (QCB) has granted Express Sandbox entry approval to Paywise LLC (Dibsy), which offers Open banking powered payment initiation services.

In a post on the X platform, QCB stated that this step is in line with the Third Financial Sector Strategy, the FinTech Strategy, and the Bank's broader efforts to develop and regulate the FinTech ecosystem in the country.

This move also underscores QCB's commitment to fostering the financial sector and advancing the objectives outlined in the Third Financial Sector Strategy.

It is important to note that entry into the regulatory sandbox does not equate to full-scale licensing approval; however, the applicant is considered an Authorized FinTech Express Sandbox Participant for the purposes of regulatory activities carried out by the FinTech entity. (QNA)