MBK Holding, Vermeg partner to develop fintech solutions

Doha: MBK Holding Group and Vermeg International yesterday signed a strategic partnership agreement aimed at enhancing cooperation between both companies in the field of developing and promoting fintech solutions and software in Qatar.

The agreement was made at a signing ceremony held at the Qatar Science and Technology Park (QSTP) building, and was facilitated by Sheikh Mansour bin Khalifa Al Thani, Chairman of the Board of Directors of MBK Holding Group, and Badr El Din Wali, Founder and Chairman of the Board of Directors of Vermeg International, in the presence of other QSTP officials.

The agreement includes developing a long-term strategic plan for the fintech sector and focuses on offering and promoting a set of fintech solutions and products in Qatar, the region and globally. 

The partnership will be launched in Qatar, which has made advanced strides in the field of fintech and has become a global hub capable of attracting foreign investments in the field of modern and advanced technologies, especially fintech.

Sheikh Mansour said: “We are pleased to sign the strategic partnership agreement with Vermeg International. This partnership, which is the first of its kind in the State of Qatar, will benefit the financial technology sector in Qatar. This agreement confirms the ability of the State of Qatar to continue to attract investments in various leading and modern technological fields. There is no doubt that the signing of this agreement comes in line with the future vision of the State, which aims to attract many investments in modern and pioneering fields, by presenting initiatives that are concerned with innovations in various technological and financial fields that support the digital economy”.

He added: “The bilateral agreements were built on mutual trust, and today, by signing this agreement with one of the most prominent international companies specialising in the field of software and technical solutions directed to the financial sectors, we culminate the efforts of our bilateral discussions that lasted about a year in order to reach an ideal agreement that achieves the desired goals for both parties and enhances the process of joint cooperation in the coming period. We will witness increased activity in order to develop the financial technology sector through the optimal use of Vermeg’s distinguished products that provide software solutions to many central banks and international banks”. 

Sheikh Mansour went on to reiterate that technology has become the backbone of innovation, and added that with the new agreement, the Company will also promote Vermeg’s products and solutions in Qatar, the Gulf region, to the Middle East and globally. 

Also speaking during the event, Wali said: “We are proud of this achievement of concluding a partnership with one of the largest companies in its field in the State of Qatar. This agreement is not only a commercial partnership aimed at promoting the products offered by our company. It includes specialised and diversified programs directed to the various financial sectors and monetary policies, as it is also a strategic, technical partnership aimed at developing more software solutions in the field of fintech”. 

He added: “We work with major international banks and central banks, whether in the European, American or Asian continent, and we also have a list of dozens of clients from major international banks in the world who use Vermeg’s products. Today, we enter the Qatari market, which is considered one of the largest financial markets. We appreciate the confidence placed by the Qatari group, and we will ensure that this agreement contributes to laying the framework foundations for joint future work, to serve our goals aimed at achieving regional and global expansion and spread in the field of fintech”.