The cyber security of Qatar’s financial
sector is the focus of the governor of Qatar Central Bank, Sheikh Abdulla Al-Thani.
Al-Thani highlighted the need
for elevated cyber security, around the clock monitoring and a strategic plan
to detect and — worst case scenario — react to a cyberattack on the country’s financial
industry.
The need stems from the alarming fact that cybercrime is now the
Middle East’s second most popular economic crime, the governor noted during a dean’s lecture at Carnegie Mellon University in Qatar.
“As the financial sector employs more and
more sophisticated computing for big data analysis and financial transactions,
leaders like his excellency are wise to consider ways to protect the industry
and ensure a stable and healthy climate for business,” Ilker Baybars, dean
and CEO of Carnegie Mellon University, said.
Attendees at the speech
included Fahad Al Khalifa, CEO at Al Khaliji Commercial Bank; Christophe Payot, ambassador for the Belgian embassy in Qatar; and Dr. Ahmed
Elmagarmid.
Furthermore, cooperation in the industries of education, scientific research and
community development are the focus of a memorandum of understanding signed by CMU-Q
and Qatar Central Bank in April 2016.
