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Yousuf Mohamed Al Jaida, General Manager, QFC and other officials at the event.

Doha: Qatar Financial Center (QFC), one of the region’s leading onshore financial and trading centers, recently welcomed aboard Nebix LLC, a Doha-based fintech digital trade finance marketplace. Nebix joins QFC’s comprehensive suite of fintech companies, which will help advance Qatar’s position as a growing regional and global center for fintech and trade finance.

Connecting businesses, lenders and insurers, Nebix is ​​a digital marketplace that validates trade finance requirements, improves their creditworthiness and connects clients with the appropriate lenders and commercial insurers, helping SMEs increase sales, optimize working capital and minimize risk while acting as an origination tool for lenders and a facilitator for trade finance brokers.

Sheikh Fahad bin Jassim Al Thani, Vice President, Financial Sector Office, QFC, said, “Qatar has devoted increased resources to improving the business climate for fintech companies and is already reaping the benefits. We have seen a tangible increase in the quantity and quality of FinTech companies making their home in Qatar through the QFC platform. We welcome Nebix to the platform as another important addition to our growing list of fintech companies. Together, we will continue to work for Qatar to become a thriving fintech hub. ”

QFC’s strategy aims to develop a stronger regional ecosystem in Trade Finance. NEBIX LLC’s trade finance platform will help attract more financial and credit insurance players to QFC, generating more trade finance opportunities for Qatari banks.

Fadi Saab, President of Nebix, said: “Nebix was created to overcome the specific trade finance barriers faced by businesses and financial institutions in Qatar and regionally in neighboring markets at large. “

“Our goal is to facilitate collaboration among all stakeholders by leveraging our cutting-edge technology and artificial intelligence capabilities. Implementing the efficient and non-disruptive Fineon Exchange model with proven processes will enable NEBIX to become the trade finance partner and the go-to solution provider for businesses, lenders and ecosystem stakeholders. of the region, ”he added.

Michel Kilzi, President of Fineon Exchange SA, said: “We are delighted to support both the Qatar Financial Center Authority (QFC) and Nebix in their quest to make Qatar the premier Fintech and Trade Finance hub in the sector. region. We look forward to working closely with Nebix to enable its success. ”

QFC is an onshore jurisdiction that allows registered companies to enjoy competitive advantages, such as up to 100% foreign ownership, 100% repatriation of profits, 10% corporate tax on locally sourced profits and an extensive network of double taxation treaties with over 80 countries, a legal environment based on English common law and the right to trade in any currency.

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