Protecting what matters: Data privacy solutions for Qatar’s expanding mobile banking sector

Abstract

This paper synthesises the current literature on innovation and consumer protection, focusing on data privacy concerns in Qatar’s mobile banking industry. As industry advances, the need for adequate data protection is crucial. The paper critically analyses Qatar’s regulatory position, particularly the Personal Data Privacy Law (PDPL) in the context of financial institutions. It discusses current trends and future threats related to consumer protection strategies based on literature and case studies. The research emphasises the urgency of increasing customer knowledge and trust alongside technological advancements. It highlights the inadequacy of relying solely on legal frameworks when both financial providers and customers lack ownership of personal data protection. Additionally, there is a notable lack of awareness about data privacy risks and consumer responsibilities in protecting data. The study provides policy implications and recommendations for Qatar’s policy makers, financial institutions and consumers. It calls for enhanced regulation, improved technology adoption by financial institutions and better communication to build customer trust. Consumers, too, need more awareness of data privacy best practices. Collaboration among all stakeholders in the mobile banking sector will lead to better data privacy in Qatar, integrated with innovation for the benefit of consumers in a digital world. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.