The Qatar Central Bank (QCB) has approved five companies “as a first cohort” from submitted applications under the ‘Buy Now Pay Later’ (BNPL) scheme.

The companies are Spendwisor Inc, Qaiver FinTech LLC, HSAB for Payment Solutions, Mihuru LLC and Pay Later Website Services.

The QCB in a statement on Saturday said: “It is important to note that entry into the regulatory sandbox does not constitute a full-scale licensing approval. However, the applicant is considered an authorised FinTech Sandbox participant for regulatory activities by the fintech entity.”

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