Britain and Qatar Forge Financial Cooperation Pact

Britain and Qatar are set to sign a memorandum of understanding to enhance cooperation in financial services with focus areas like fintech and green finance. The agreement aims to foster economic ties during Qatar's emir's state visit to the UK.

On Wednesday, Britain and Qatar will put pen to paper on a memorandum of understanding designed to bolster cooperation in financial services, particularly in the fintech and green finance sectors. The event, hosted by the Finance Minister Rachel Reeves and Economic Secretary Tulip Siddiq at Downing Street, marks a significant step in strengthening financial ties between the two nations.

A delegation from Qatar, including prominent financial institutions such as Citibank, Standard Chartered, Al Rayan, and Qatar National Bank, will be present to witness the signing. This move follows similar agreements Britain has made with other Gulf states, including Saudi Arabia and the United Arab Emirates.

The signing of this memorandum is a key part of the Qatari emir Sheikh Tamim bin Hamad Al Thani's two-day visit to the UK. Britain's Prime Minister, Keir Starmer, aims to leverage this visit to secure crucial economic and security benefits for the country, as part of an ongoing strategy to deepen ties with the Gulf region.

(With inputs from agencies.)