Regulatory Framework for Digital Banks
Part A - General Provisions
Article 1 - Short Title & Commencement
The instructions set forth herein are titled the "Regulatory Framework for Digital Banks" (also referred to as the "Regulation") and shall enter into force as of 02/12/2024.
Article 2 - Definitions
For the purpose of this Regulation, the following terms are defined as follows, unless the context otherwise suggests:
S.No. | Term | Explanation |
1 | Consortium | An arrangement between a group of companies to work together for a particular purpose. |
2 | Customer | A person that deals with a Digital Bank, for the purposes of obtaining services from the Digital Bank. |
3 | Digital Bank | A bank, licensed by the QCB, that primarily offers banking products and services to individuals or businesses, as per the scope defined in this regulation, through the internet or other electronic channels only. |
4 | Entity | An organization licensed and regulated by the Qatar Central Bank. |
5 | Person | Any natural or legal person. |
6 | QAR | Qatari Riyal. |
7 | Qatar | The State of Qatar. |
8 | QCB | The Qatar Central Bank. |
9 | QCB Law |