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Business and Finance

QCB Directs Banks to Reduce and Standardize Fees Charged from Micro-Companies, Merchants

28 Apr, 2022 09:30 AMGulf TimesIntended Audience
Citizen: Business Owner

News Details

In a circular posted on its official Twitter account yesterday, Qatar Central Bank (QCB) has directed all banks operating in the State to reduce and standardize fees charged from micro-companies and merchants distributing food commodities, and private fuel stations.

QCB directed all banks that provide Point of Sale (POS) service to provide payment service using a QR code at merchants and to provide the necessary usage instructions.

QCB pointed out that its directives aim to achieve Qatar National Vision 2030 by improving the effectiveness of electronic payment services in the banking sector in the State of Qatar, and to encourage the use of electronic services, which supports the transition toward a non-monetary society, supports economic integration and enhances the participation of all categories of private sector companies.

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