GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Banking and Investments

 
  Share
  • The first day of the conference will see a key panel session comprising leading banking technology experts deliberating on the growing need for Islamic banks to re-engineer in order to address evolving customer needs in the digital era.

Dubai, UAE, November 22, 2017: Middle East Global Advisors, a leading financial intelligence platform facilitating the development of knowledge-based economies in the MENASEA markets, will convene the 24th edition of their flagship offering – The World Islamic Banking Conference (WIBC), the largest and most prestigious gathering of Islamic banking and finance leaders in the world, on December 4th, 5th & 6th in the Kingdom of Bahrain. Based on a strategic partnership with the Central Bank of Bahrain, the three-day long forum will take place at the ART Rotana Hotel in Amwaj Islands.

The theme for WIBC 2017 - “Drivers of Economic Growth & Risks: Policymakers & Regulators”, is in line with the conference's steady vision to serve as a compass for the global Islamic finance and banking industry, and is expected to draw participation from over 1300 global industry leaders, policy makers, innovators and stakeholders, all focused on generating breakthrough insights that help navigate through the complexities of the global financial system.

Touted as a catalyst for unprecedented change, digitization has resulted in constant disruption to existing business models, processes and services for Islamic Banks. The advent of the digital revolution has brought with it a gamut of new improved user experiences resulting in a paradigm shift in customer behavior, that's made customer engagement all the more hard. With the rapid change in technology in the banking sector, and other non-bank players entering the market, the intermediary link between institutions and customers has become less direct. Enhancing customer value and establishing a direct control of customer relationships has emerged as a key differentiator in a stiff competitive environment. Interestingly, according to the World Islamic Banking Competitiveness Report 2016 by EY, Islamic banks still have a lower customer penetration in mobile banking compared to conventional banks and the digitization efforts need to catch up.

While in the past, Islamic Banks were behind their conventional banking counterparts in terms of innovation and technology, however, now many in the Gulf and the Middle East, especially those that have performed well over the past few years, have realized the power of re-engineering their business models and adopting a more agile approach to digital banking.

Speaking on behalf of WIBC's Islamic Banking Technology Partner, Mohammed Kateeb, Group Chairman & CEO, Path Solutions, said, “The Islamic finance industry is going through drastic changes as a consequence of evolving customer behavior, channel proliferation and the digitization of operations in general. However, it's important to recognize the common challenges and opportunities facing the industry at large. The Islamic finance industry has a lot of catching up to do in terms of placing an emphasis on customer and market evolutions and process change requirements. In this relation, I look forward to contributing to the critical discussion on digital banking at the 24th World Islamic Banking Conference next month.”

Speaking ahead of taking part in the digital banking focused panel, Ahmed Albalooshi, Group CIO, Al Baraka Banking Group, said, “It is a privilege to participate in the 24th World Islamic Banking Conference as part of the CIO panel on Digital Banking. In this age of technological disruption, CIOs are poised to tackle external and internal challenges effectively whilst enabling business growth and increasing the overall profitability. As a leading Islamic bank operating in 15 countries, I look forward to sharing our experience in digital banking with the participants and benefitting from their own.”

Speaking on behalf of WIBC's Associate Partner, Andrew Sims, Chief Executive Officer, NEC Payments, said, “NEC Payments are proud to be supporting the 24th World Islamic Banking Conference. We are living in an era when change happens faster, and when our customers' opinions are influenced more quickly and by a broader range of media and information channels than at any time in the past. I am delighted to be able to participate in the Digital Banking panel, and to discuss with my peers how financial institutions may harness the benefits of transformative technologies to deliver next-generation products and services that delight and engage customers, while increasing efficiency and profitability.”

In light of the technological disruption of Islamic Banks, the 24th WIBC will pioneer a panel session focused on harnessing digital technologies to stay relevant and address the evolving customer preferences. The session will feature key insights from Mohammed Kateeb, Group Chairman & CEO, Path Solutions; Ahmed Albalooshi, Group CIO, Al Baraka Banking Group; Esam Alkheshnam, CEO, International Turnkey Systems (ITS); Fadi Hani, VP MEA & Turkey, Avaya & Andrew Sims, Chief Executive Officer, NEC Payments, as they probe attendees to rethink their approach towards digital banking and dole out pointers on addressing the evolving customer preferences by means of rewiring existing business models.

Key features for WIBC 2017 include: Governors' Addresses; High-profile Regulatory Debate among Central Bankers; a conversation with a distinguished Islamic finance veteran - Adnan Ahmed Yousif, Chief Executive and President, Al Baraka Banking Group on the future course of the Islamic economy; an exclusive WIBC Knowledge-Sharing Series touching upon a number of topical issues like Leveraging Islamic Capital Markets for innovative solutions that will focus on Aviation Financing, Alternative/Renewable Energy Financing; Panel discussions focusing on dynamic capital markets, sustainable, equitable & inclusive growth, new horizons for Islamic finance, ESG Investing and the influence of energy prices, VAT, the effect of the recent global economic & political developments and much more.

Industry leaders will also be recognized for their excellence through the WIBC Performance Awards 2017, the winners of which will be honored at the Gala Dinner on December 05. Confirmed partners at WIBC 2017 so far include: Kuwait Finance House (KFH), Khaleeji Commercial Bank (KHCB), Bahrain Islamic Bank (BISB), Al Salam Bank -Bahrain, Ibdar Bank, Bank ABC Islamic, Bank of Khartoum (BOK) International, Boubyan Bank, Avaya, Wahed Invest, Alvarez & Marsal, Al Baraka Banking Group, Ithmaar Bank, Thomson Reuters, Path Solutions, Labuan IBFC, Shariyah Review Bureau, Luxembourg for Finance (LFF), Oracle Financial Services, Baker McKenzie, DARKTRACE, The Benefit Company B.S.C, Infosys Finacle, Sadad, NEC Payments, Eiger Trading Advisors Ltd, G4S, Department for International Trade – British Embassy Bahrain, CBX Unit LLC, Deloitte, DDCAP, Fitch Ratings, Crestbridge Bahrain, The Islamic Corporation for the Development of the Private Sector (ICD), Bahrain Institute of Banking & Finance (BIBF) & International Islamic Financial Market (IIFM).



Posted by : GoDubai Editorial Team
Viewed 5764 times
Posted on : Wednesday, November 22, 2017  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Dubai Land Transactions Soar by AED30 Billion Over Five Years
Next Story : Technal Middle East and SideRise Group launch building façade solutions compliant with UAE Fire and ...
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Reverse the effects of hair fall with Crescina Re-Growth HFSC Shampoo
Achieve whiter teeth at home with Spotlight Teeth White Strips
Golden Bridge Rectangle Diamonds Celebrates The Virtuosity Of Art Deco Design Genius
Noble™ Anti-aging Skin Care Products
Skyline Conducted Women of Substance: A Panel Discussion on Women Empowerment
UAE National Day celebrated in Skyline Carnival 2017
SUC signed MOU with Waldorf Astoria Ras Al Khaimah
SUC conducted Tour Guide Training Program for SCTDA
Calvin Klein Presents Steadfast Collection
Time for Some AIGNER Love
Mohammed bin Rashid Launches UAE Astronaut Programme
Mido's Multifort Escape - An uncompromising timepiece for exploring new horizons
RUNWAY DUBAI creates a new buzz campaign for fashion tourism
Gift gorgeous skin this festive season.
NIVEA MEN and Real Madrid Extend Partnership Globally Covering 70+ Countries
Sthan, bringing you authentic Frontier food from beyond borders, is now open in Dubai
Eberhard & Co. celebrates 130th Anniversary with special commemorative Edition C...
Coach Women's Lex Stainless Steel Bracelet Watch Collection
‘Artistry' - Branded Jewellery show at Malabar Gold & Diamonds' outlet in Meena ...
Together for Egyptian Cinema: A Million happy viewers
Celebrate the Festive Season With the Galleria on Al Maryah Island in Abu Dhabi
BOSS watches presents Navigator Collection
Absolutely Rejuvenated Skin to Start the New Year
Feast your way into the festive season at The Coffee Club
Bovet Presents Brilliant Is Beautiful Gala Benefitting Artists for Peace and Ju...
Dubai Land Department Launches its Smart Archiving System
Svelte BU4108-11H dress watch in black and rose gold plating makes an impact
Hottest Smartphone ever! Go get a true luxury phone from HUAWEI
Gourmet Gifting at Tub of Butter
Robinsons National Day Trunk Show
Over 200 developers across India participate in CREDAI's Indian Property Show
Lg V30+ Launches in the Uae and Makes Its Way Into Customers' Pockets and Lives
The First “Dilmah Silver Jubilee Gourmet” in a Middle East Hotel Opens in Pullma...
Unilever's Lipton Jebel Ali Tea Factory First in MENA to Achieve Bronze World Cl...
Ghantoot present 17th Emirates Open Polo Championship International
More Than 6,000 Bears Donated to Toys With Wings & Emirates Red Crescent for Nov...
Epson to showcases the future of large laser display technology at InfoComm MEA 2017
Dubai Customs reaffirms efforts to combat counterfeit goods with Japanese partners
Awqaf and Minors Affairs Foundation, Family Village Celebrate 46th UAE National Day
Automechanika Riyadh turns focus on exciting growth potential of Saudi automotiv...
The Verses of Peace Exhibition begins at the Abu Dhabi World Trade Centre
Glamazle.com names a Lipstick after Yardstick Marketing as a testimonial to the ...
Step into 2018 with skinade & slow down the signs of ageing
Green Hope on Former US Vice President Al Gore's 24 Hours of Climate Reality telecast
Saxo Bank 2018 Outrageous Predictions: 2018 will be a true roller coaster ride c...
The du Youth Council Holds a Volunteering Day at Al Ain Zoo with People of Deter...
Indian realty in revival mode, says industry expert
Strong Airline Profitability Continues in 2018
Cybercriminals Switching to Impersonation Attacks to Bypass Email Security Systems
Phumzile: UN Women uses rigorous methods to monitor and evaluate its programmes