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Digital banking

BP announces $7bn gas project

The project aims to unlock 3 trillion cu ft of gas resources in Indonesia.

Lulu Retail Q3 profit $35m

For the nine-month period, net profit increased by 73.3%.

Talabat IPO offer price range announced

The subscription will close on 27 Nov for UAE retail investors.

Salik 9M net profit $223m

The company's third-quarter profit increased by 8.8 percent.

Avia to buy 40 Boeing aircraft

The transaction for the purchase of 737 MAX 8 jets valued at $4.9bn.
Gender gap narrows in account ownership

Gender gap narrows in account ownership

The pandemic, which spurred financial inclusion, has driven a huge increase in digital payments amidst the global expansion of formal financial services.

This expansion created new economic opportunities, narrowing the gender gap in account ownership, and building resilience at the household level to better manage financial shocks across the world, including GCC countries.

Technological advancements make regional banks more buoyant

Technological advancements make regional banks more buoyant

Banks in the GCC countries have proved their resilience to the pandemic owing to years of investment in their technological capabilities, which helped them to shift their activity online without significant disruption.

Another important and influential trend being witnessed by the banking sector in the region is reduced physical networks and shifting some of the staff to more cost-effective locations. All this allows financial institutions to serve their clientele better and provides convenience to the customers by saving their energy and time.

COVID-19 helps GCC grow its appetite for digital banking

COVID-19 helps GCC grow its appetite for digital banking

In the wake of COVID-19, customers in the region are increasingly seeking enhanced digital banking services. Thus, the adoption of digital practices has become the cornerstone of a competitive banking economy.

Banks in the Gulf region were already on the path towards digitization, but the pandemic became the catalyst for accelerated change. As consumers got used to superior online shopping, health, and governmental services, they have increasingly been demanding that banks follow suit with their digital processes and offerings.

GCC ripe for digital banking growth

GCC ripe for digital banking growth

The Gulf region is positioned to become the next thriving hub of digital banking innovation, having gained valuable lessons from the challenges posed by the Covid-19 pandemic, says experts.

A high penetration of digital technologies and a tech-savvy younger consumer base among the factors that make the region a fertile ground for the flourishing of online banking. The present laws and regulations in most GCC countries have significantly influenced this sector’s development. Aiding the region in its embrace of digital banking is the increasing…

Ways of digital banking in Middle East

Ways of digital banking in Middle East

Opportunities are endless if one embraces changes as they come and respond with smart risk-taking. How the banks use digital platforms is crucial.

The establishment of over 40 financial free zones in the UAE has encouraged innovation in digital banking. The fintech market in Saudi Arabia, meanwhile, is expected to grow by 55 percent by 2033.

Web 3.0 to further revolutionize digital banking

Web 3.0 to further revolutionize digital banking

Web 3.0 — a decentralized, blockchain-based digital marketplace — is having a major moment in the financial sector.

Forward-leaning financial institutions are ready to seize strategic opportunities to secure their stake in the future of Web 3.0. Right strategies will help traditional banks in giving an edge to their competitors in the cyberspace.