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#ICYMI: Qatar Islamic Bank (QIB) integrates digital innovation and sustainability Read the full article: https://lnkd.in/g9rnz-qj Constantinos Constantinides, Chief Strategy and Digital Officer of Qatar Islamic Bank (QIB), discussed how the bank is redefining the future of banking through a committed integration of digital innovation, strategic fintech collaborations, and a strong focus on environmental, social, and governance (ESG) principles. QIB has implemented initiatives that enhance customer experience, operational efficiency, and contribute to a more sustainable and inclusive banking ecosystem. QIB's digital transformation journey, recently highlighted at the Union of Arab Banks meeting hosted by the Qatar Central Bank, includes the development of a digital banking platform tailored to various customer segments. One significant aspect is an app designed specifically for blue-collar workers, available in eight languages, which facilitates international transfers and payments. This initiative is part of QIB’s effort to promote financial inclusion, particularly for segments that traditionally have limited access to banking services. Financial inclusion is a crucial focus in the Middle East, where many migrant workers and lower-income individuals face barriers to accessing financial services. QIB’s app directly addresses this gap by providing an easy-to-use platform for essential banking activities. The app's success is evident in the 27% year-on-year increase in international transfers from January to August and a 493% growth in direct corridors, supporting transactions with eight key countries. This not only illustrates QIB's dedication to financial inclusion but also positions the bank as a facilitator of cross-border transactions for underserved communities. Damaan Islamic Insurance Company - Beema, Medgulf Takaful, Visa Foo Boon Ping 胡文彬, TAB Global #DigitalInnovation #FinancialInclusion #CarbonTracking #ESGPrinciples #FintechCollaboration #OperationalResilience #ArtificialIntelligence #SustainableBanking #LeadershipInBanking #FutureOfFinance #BankingInnovation #BankingLeadership #SustainabilityInBanking #MiddleEastBanking #QatarIslamicBank #TheAsianBanker #TABGlobal

Exciting developments at #QIB as we continue to integrate digital #innovation and #sustainability into their core strategy! Constantinos Constantinides, Chief Strategy and Digital Officer, recently shared insights on how the bank is driving the future of banking through digital transformation and a strong commitment to #ESG principles. From a digital banking platform tailored for various customer segments to an app designed specifically for workers, QIB is pushing forward on both financial inclusion and operational efficiency. Read more about how QIB is redefining the banking landscape and empowering underserved communities through strategic fintech collaborations and cross-border transactions.

Qatar Islamic Bank (QIB) integrates digital innovation and sustainability Read the full article: https://lnkd.in/g9rnz-qj Constantinos Constantinides, Chief Strategy and Digital Officer of Qatar Islamic Bank (QIB), discussed how the bank is redefining the future of banking through a committed integration of digital innovation, strategic fintech collaborations, and a strong focus on environmental, social, and governance (ESG) principles. QIB has implemented initiatives that enhance customer experience, operational efficiency, and contribute to a more sustainable and inclusive banking ecosystem. QIB's digital transformation journey, recently highlighted at the Union of Arab Banks meeting hosted by the Qatar Central Bank, includes the development of a digital banking platform tailored to various customer segments. One significant aspect is an app designed specifically for blue-collar workers, available in eight languages, which facilitates international transfers and payments. This initiative is part of QIB’s effort to promote financial inclusion, particularly for segments that traditionally have limited access to banking services. Financial inclusion is a crucial focus in the Middle East, where many migrant workers and lower-income individuals face barriers to accessing financial services. QIB’s app directly addresses this gap by providing an easy-to-use platform for essential banking activities. The app's success is evident in the 27% year-on-year increase in international transfers from January to August and a 493% growth in direct corridors, supporting transactions with eight key countries. This not only illustrates QIB's dedication to financial inclusion but also positions the bank as a facilitator of cross-border transactions for underserved communities. Damaan Islamic Insurance Company - Beema, Medgulf Takaful, Visa Foo Boon Ping 胡文彬, TAB Global #DigitalInnovation #FinancialInclusion #CarbonTracking #ESGPrinciples #FintechCollaboration #OperationalResilience #ArtificialIntelligence #SustainableBanking #LeadershipInBanking #FutureOfFinance #BankingInnovation #BankingLeadership #SustainabilityInBanking #MiddleEastBanking #QatarIslamicBank #TheAsianBanker #TABGlobal

Nigeria’s tier-1 banks — Access Bank Plc, First Bank of Nigeria Ltd., Guaranty Trust, UBA Group, and Zenith Bank Plc —  raked in a combined ₦392 billion from electronic business in 2023, with UBA leading the pack. “E-business income includes revenue from electronic channels, card products, and related services. These channels include mobile applications, USSD channels, automated teller machines (ATMs), agency banking, internet banking, and point of sales (POS) payments.” 2023 E-business revenue for Nigeria’s top 5 banks 💸 UBA Group – ₦125.5 billion (+59% YoY) 💸 Access Bank Plc – ₦99.1 billion (+66% YoY) 💸 First Bank of Nigeria Ltd. – ₦66 billion (+20% YoY) 💸 Zenith Bank Plc – ₦51.8 billion (+13% YoY) 💸 Guaranty Trust – ₦40.8 billion (+8% YoY) Via Nairametrics. https://lnkd.in/ehYRqGbY #fintech #financialservices #banking #digitalbanking #africa #growth

The Best Banks in the Middle East are showcasing resilience and innovation in navigating economic and geopolitical challenges. They are launching specialized products, partnering with fintech firms, and expanding regionally. Sustainability is a key focus, with a commitment to ESG principles. Arab Bank is leading in digital innovation, renewable energy financing, and education partnerships. Ahli United Bank is driving Islamic banking growth in Bahrain post-conversion. QIB is excelling in digital banking, with initiatives like SoftPOS and Marketplace driving increased user adoption and sales. These banks are committed to financial inclusion and supporting various demographics. #financialinnovation #middleeastbanking

🚀 Unveiling the latest chapter in our insightful series, based on the #report "Guidelines for Effective Open Banking/Finance Adoption in Bahrain", a collaborative effort by the Council of Arab Central Banks and Monetary Authorities Governors, Arab Regional Fintech Working Group, Arab Monetary Fund, and Fintech Galaxy. 💡 Dive into #Bahrain's pioneering journey in #OpenBanking and #OpenFinance, setting a benchmark for the region's financial #innovation. Explore how Bahrain’s strategic embrace of innovation, a robust regulatory framework, and a skilled workforce contribute to its position as a leader in the Open Banking and Open Finance landscape. Don’t miss this in-depth look at Bahrain's successful strategies, challenges overcome, and future outlook on revolutionizing #finance through collaboration and digital-friendly policies. Read the full article here 👉 https://lnkd.in/dqCCwaWc Stay tuned for more enlightening articles in our series, spotlighting financial revolution across the region! #OpenBanking #OpenFinance #Bahrain #FinancialInnovation

D360 Bank Secures Approval From Saudi Central Bank – SAMA for Its Official Launch Ezequiel Szafir Holcman, CEO of D360 Bank, also affirmed the bank’s readiness, stating: “SAMA’s relentless support and supervision has been instrumental in our journey, and made us a better bank. Now, we are ready to begin opening accounts for our waitlisted customers. During our pre-launch phase, D360 Bank witnessed a high demand, demonstrating the remarkable progress and leadership of the Saudi banking sector regionally and globally. Today, Saudi Arabia is pioneering financial innovation with an advanced digital banking ecosystem that boosts the competitiveness of the Saudi economy, positioning it among the world’s leading financial markets.” “Our customers tell us that D360 Bank is the best travel bank, providing a simple, secure digital experience at competitive exchange rates. We remain committed to delivering a fast and secure banking experience, with products and services that meet our customers' needs, backed by our cutting-edge infrastructure and technology.” https://lnkd.in/dDAW7W2k Faisal AlJadaan Rayan AlTurki Przemek Henschke Mohammed Alkhomashi Tahani Alotaibi Abdelaziz Mohammed Osama AlShathri #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

🚀 Bahrain Islamic Bank (BisB) has just launched an update to its Corporate Digital Onboarding service, enabling businesses, including “Sijili” CR holders, to open accounts seamlessly through our digital banking platform in under 5 minutes! This move aligns with the Ministry of Industry and Commerce's new directive to unify commercial accounts by December 2024. https://lnkd.in/dpXfY4Nt

Saudi Central Bank – SAMA has announced the issuance of the second release under the Open Banking Framework, focusing on the Payment Initiation Service (PIS). This latest release is part of SAMA's ongoing efforts to strengthen Saudi Arabia's fintech ecosystem, with the aim of improving consumer experience and transaction efficiency, while opening up new opportunities for the Kingdom's fintech sector to offer enhanced products and solutions. SAMA's Open Banking Framework comprises a set of guidelines and technical standards, based on international best practices, to facilitate the delivery of open banking services in Saudi Arabia. The second release standardises how participants can offer PIS reliably and securely, while also clarifying the responsibilities of all parties involved in the provision of these services. This initiative is a key component of SAMA's open banking programme, which falls under the National Fintech Strategy - one of the pillars of the Financial Sector Development Programme (FSDP) under Saudi Vision 2030. The strategy, which was approved by the Council of Ministers in 2022, aims to position Saudi Arabia as a global fintech hub and enhance the economic empowerment of individuals and society. The launch of PIS within the Open Banking framework contributes significantly to the strategy by improving the efficiency and security of payment services in the Kingdom. Under the new PIS guidelines, consumers will be able to initiate payment transactions securely from third-party applications, building on previous guidelines that covered the Account Information Service (AIS). (Image by FintechNews) #Fintech #OpenBanking #SAMA #SaudiVision2030 #DigitalTransformation #FinancialInclusion

Pakistan is on the brink of a great leap forward in digital financial services, which promises better products and services for the banked and unbanked alike. The building blocks are beginning to fall into place to underpin a world-leading payments and banking ecosystem, which is critical for the country’s future economic success. In this latest article by Pro Pakistani PK, Furrukh Ali Baig, Managing Director for Pakistan at BPC Banking Technologies shares his thoughts on "Pakistan’s Digital Finance Revolution: Progress, Challenges, and the Road Ahead": https://lnkd.in/dqpu5Up2 #weareBPC #bankingtech #payments #banking #digitaltransformation #paymentprocessing #centralbanks #digitalbanking #cashlesssociety