Shorooq Aligns with PayLater to Boost Qatar’s Sharia-Compliant BNPL Growth

Mohammed Fathy

Last updated 4-02-2026

2 min

Shorooq signed an MOU with PayLater at Web Summit Qatar to explore a scalable credit facility.

PayLater is Qatar’s first Sharia‑compliant BNPL firm, operating under tight central bank oversight.

The deal fits Shorooq’s strategy of backing regulated fintechs with non‑dilutive capital.

Both sides stress sustainable growth over hype, calling the approach “cautiously promising”.

The handshake happened on a busy floor at Web Summit Qatar, but the implications could travel far beyond Doha. Shorooq, the multi‑strategy investment firm known for blending venture capital with credit and alternative investments, has signed an MOU with PayLater, Qatar’s first Sharia‑compliant Buy Now, Pay Later provider licensed by the Qatar Central Bank. The two sides will explore building a scalable credit facility to fuel PayLater’s next chapter.

PayLater is not exactly new to this game. Operating under QCB oversight and sticking closely to Sharia principles, the fintech has carved out a niche with careful underwriting and a growing base of merchants and users. In a region where BNPL has sometimes felt like a bit of a faff to regulate properly, that discipline matters. I’ve seen similar models struggle elsewhere in MENA when the fundamentals weren’t spot on, so this focus on structure feels, well… sensible.

From Shorooq’s perspective, the agreement fits neatly into its wider push to back high‑growth, regulated platforms with non‑dilutive capital. The idea is to help founders scale without giving away the shop. Mahmoud Adi, Shorooq’s founding partner, pointed to what he sees as the next phase of fintech growth in the region: companies that are well regulated, able to absorb institutional capital, and mature enough to use it wisely.

PayLater’s chief executive, Dr. Devid Jegerson, echoed that line of thinking, saying the firm now needs more sophisticated, Sharia‑compliant credit structures as it grows. According to him, the talks with Shorooq could support PayLater’s long‑term vision while also reinforcing Qatar’s ambition to be a serious fintech hub.

That said, MOUs are only a starting point. Believe it or not, I’m not a fan of breathless headlines at this stage. Still, the timing is interesting. Across the region, there’s rising attention on Islamic digital finance and on putting proper institutional funding rails in place for platforms that are already regulated. For readers at Arageek who’ve watched fintech cycles come and go, this one feels cautiously promising — not flashy, but perhaps more sustainable. And in today’s market, that might be exactly what’s needed, definately.

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