Doha, Qatar – 26 May, 2024

AlRayan Bank (MAR), one of the leading banks in Qatar, announced that it has signed a strategic Memorandum of Understanding (MOU) with Google Cloud aimed at fostering innovation and advancing data-driven solutions within the bank’s ecosystem. This collaboration marks a significant step towards enhancing MAR’s capabilities in leveraging cutting-edge technology to drive business growth and provide innovative products and services to its customers.

Under the terms of the MOU, AlRayan Bank and Google Cloud will work collaboratively to explore opportunities to utilize Google Cloud services, including AI technology services, to empower MAR in its journey towards becoming a data-driven institution. Additionally, the agreement will focus on leveraging Google Cloud services to foster a culture of innovation within the Bank’s Innovation Lab.

"We are pleased to sign a memorandum of understanding with Google Cloud," said Mr. Fahad bin Abdulla Al Khalifa, Group CEO of AlRayan Bank. "This agreement underscores our commitment to harnessing the power of technology to drive innovation and deliver exceptional value to our customers. By leveraging Google Cloud's advanced services and expertise, we aim to accelerate our journey towards becoming a data-driven bank and further strengthen our position as a leader in the industry."

“Digital transformation requires technology that helps businesses solve complex challenges unique to their industry,” said Ghassan Kosta, regional General manager, at Google Cloud. “In today's fast-paced world, collaboration is the fuel that propels financial services forward. By utilizing Google Cloud’s leading technologies, AlRayan Bank will be able to provide new tools that tackle complex challenges, accelerate innovation, and ultimately deliver more value to customers.”