Instimatch Global, the money markets fintech network has announced its entry to the Gulf market.
The joint venture has been established as the firm has partnered with a leading Qatari institution and a group of local partners to strengthen its market entry.
Sheikh Fahad Al-Thani, one of the local partners, emphasised: “We found Instimatch’s team and growth to date very impressive, and believe its offer will have a lot of appeal here.
“Our local knowledge coupled with Instimatch’s proven technology makes for an impactful collaboration. With its approach and roadmap, Instimatch is well on its way to digitally, efficiently and seamlessly bridge the procedural and operational gap between conventional and Islamic banking.”
The collaboration has already secured a range of leading banks as new clients in the region. The Qatar Financial Centre, one of the world’s leading and fastest growing onshore business and financial centres, has welcomed Instimatch Global to its fintech platform.
Instimatch Global CEO Daniel Sandmeier added on the expansion: “We are thrilled to have such strong local partners on board to steer our growth in the region. The Middle East has been a focus of ours for some time, as a region where we see significant potential.
“Given the region’s extensive money markets infrastructure, our digital network can bring greater efficiencies to the market. Together with our existing and prospective partners we look forward to bringing positive disruption to this important market, and we are thrilled at the leading financial institutions already on board.”
Derek Kwok, Head of Treasury and Investments at Ahli Bank QPSC, commented: “The pace of change in money markets in the Gulf is accelerating, and this is a propitious time for Instimatch Global to be entering the market with a compelling, unique offer.”
Expert Analysis: The Gulf is a constantly evolving unique market when it comes to payments and fintech, through a host of strengthened partnerships, Instimatch Global is well positioned for expansion into the region.
