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Ajyal FinTech Solutions LLC, known for providing innovative financial solutions, has received approval from the Qatar Central Bank (QCB) to enter its regulatory sandbox. Ajyal’s flagship service, Wafir, is a Rotating Savings and Credit Association (ROSCA) platform designed to help individuals seamlessly reach their financial goals.
The sandbox approval aligns with QCB’s broader Financial Sector and Fintech strategies, aimed at advancing and regulating Qatar’s FinTech ecosystem. By enabling companies like Ajyal to test their solutions in a controlled environment, QCB demonstrates its commitment to fostering financial sector growth and supporting the objectives of the Third Sector Strategy.
While entry into the regulatory sandbox allows Ajyal to operate as an authorized FinTech Sandbox Participant, it does not yet grant full-scale licensing approval. Instead, the sandbox serves as a framework for QCB to oversee the testing of innovative FinTech solutions and assess their impact on Qatar’s financial sector.
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