MBK Holding signs a strategic partnership with Vermeg International to develop and promote fintech solutions

• Wali: The partnership is not only commercial, but also technical aims to develop more software solutions in fintech

Doha, Qatar: Today, MBK Holding Group and Vermeg International signed a strategic partnership agreement, aimed at enhancing aspects of cooperation between the two companies in the field of developing and promoting fintech solutions and software in the State of Qatar.

The agreement, whose ceremony was held at the Qatar Science and Technology Park building, was signed by His Excellency Sheikh Mansour bin Khalifa Al Thani, Chairman of the Board of Directors of MBK Holding Group, and Mr. Badr El Din Wali, Founder and Chairman of the Board of Directors of Vermeg International, in the presence of officials from Qatar Science and Technology Park.

The agreement signed between the two companies aims to develop frameworks within a long-term strategic plan that covers the fintech sector and focuses on offering and promoting a set of solutions and products for this sector within the State of Qatar, regionally and globally. It is expected that this partnership will be launched from within the State of Qatar, which has made advanced strides in the field of fintech, which has enabled it to become an advanced global center capable of attracting foreign investments in the field of modern and advanced technology, especially fintech.

On this occasion, His Excellency Sheikh Mansour bin Khalifa Al Thani, Chairman of the Board of Directors of MBK Holding Group, said: “We are pleased to sign the strategic partnership agreement with Vermeg International. This partnership, which is the first of its kind in the State of Qatar, will benefit the financial technology sector in Qatar. This agreement confirms the ability of the State of Qatar to continue to attract investments in various leading and modern technological fields. there is no doubt that the signing of this agreement comes in line with the future vision of the State, which aims to attract many investments in modern and pioneering fields, by presenting initiatives that are concerned with innovations in various technological and financial fields that support the digital economy”.

His Excellency added: "The bilateral agreements were built on a fundamental factor, which is the volume of mutual trust, and today, by signing this agreement with one of the most prominent international companies specialized in the field of software and technical solutions directed to the financial sectors, we culminate the efforts of our bilateral discussions that lasted about a year in order to reach an ideal agreement that achieves the desired goals for both parties and enhances the process of joint cooperation in the coming period, which will witness a double work in order to develop the financial technology sector through the optimal use of Vermeg’s distinguished products that provide software solutions to many central banks and international banks.”

The Chairman of the Board of Directors of the MBK Holding Group continued: "Today, technology has become the backbone of the innovation system, and the current agreement is a representation, marketing, and support agreement for all Vermeg’s products and solutions, in all countries of the world, starting with the State of Qatar and then the Gulf countries and the Middle East, all the way to different countries of the world. We have the ability to develop business and areas of cooperation in the future to the pioneering and distinguished partnership between the two companies, and the continuous support of Qatar Science and Technology Park by providing the best ways to enhance the work of Qatari companies working in the field of technology and innovation.”

Mr. Badr El Din Wali, Founder and Chairman of the Board of Directors of Vermeg International, said: “We are proud of this achievement of concluding a partnership with one of the largest companies in its field in the State of Qatar. This agreement is not only a commercial partnership aimed at promoting the products offered by our company. It includes specialized and diversified programs directed to the various financial sectors and monetary policies, as it is also a strategic, technical partnership aimed at developing more software solutions in the field of fintech.”

He added: "We work with major international banks and central banks, whether in the European, American or Asian continent, and we also have a list of dozens of clients from major international banks in the world who use Vermeg’s products. Today, we enter the Qatari market, which is considered one of the largest financial markets. We appreciate the confidence placed by the Qatari group, and we will ensure that this agreement contributes to laying the framework foundations for joint future work, to serve our goals aimed at achieving regional and global expansion and spread in the field of fintech”.

Wali clarified that Vermeg International Company provides, in addition to standard software solutions that meet advanced digital needs, customized solutions according to advanced commercial tools and expertise, as part of a strategy that provides effective and advanced digital products, and considers multiculturalism, social and environmental differences, as well as its focus on Support and talent development.

Vermeg International specializes in developing software solutions and technical products directed to banks and central banks, in addition to financial companies, insurance companies, stock exchanges, brokerage companies and others, by providing a package of software and various technical solutions in the field of fintech, which is witnessing a state of spread in the last few years with the support of the growing pace of digital transformation in the financial sector.

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© Press Release 2021