QCB receives applications for ‘Buy Now, Pay Later’ service providers

The Qatar Central Bank (QCB) on Monday announced that it has officially opened the application process to obtain a licence to provide the ‘Buy Now Pay Later’ (BN PL) services. Applications will be accepted until November 3, 2023. QCB explained that, through this service, it aims to regulate the BN PL service providers in the country, in a way that achieves an appropriate regulatory framework for emerging financial technology companies to develop and improve smart solutions for this service, which has witnessed remarkable growth in recent years. (QNA)