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 12725 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
Season's Greetings 2018
Twelve Holiday Gifts for the Beauty-Obsessed Woman
The Smile Bar Opens Its First Store in the UAE
Purely Pandora Classics With a Twist
Festive Gifting Guide
New 1948 Seamaster Watches Join the Ranks
Tryano Launches Elemis
Add a festive sparkle to your eyes with Palladio Beauty
The Geo-Graham Orrery Tourbillon presents a galaxy you can reach out and wear Ge...
Amp up your skincare routine with The Organic Pharmacy's new corrective serums
Parmigiani Fleurier, new Friends of the Brand – ice-hockey superstar, Evgeniy Ma...
Hour Choice presents Coach Park Collection
Chloé Eyewear's Feminine Appeal Seen Through the Lens of the New “Rosie” Style
Certina DS PH200M collection
Joyalukkas brings joy to hundreds around the world with gold bar giveaway this f...
Tissot T-Race Marc Marquez
LACOSTE presents its new Legacy collection
Coca-Cola Puts Extra Fizz Into Its Factory Thanks to Digitisation
Oh So Heavenly! Bath Sets from Glambeaute.com that make a great gift this festi...
Sawalef Perfumes is now available at Mirdif City Centre
Introducing Nokia 3.1 Plus to the UAE
Introducing the GUESS Holiday 2018 Collection
The Custodian of the Two Holy Mosques King Salman bin Abdulaziz honored Huawei w...
Souq.com's Biggest Ever White Friday Sale
Zoho launches its cloud accounting software in Bahrain
The new BMW 8 Series Convertible.
The Ultimate Festive Guide For Little Ones
Puma Launches RS-X Toys
Department of Culture and Tourism – Abu Dhabi Organises ‘Herfaty' Programme in A...
Jameel Arts Centre, Dubai opens with an ambitious set of exhibitions and program...
Jaguar F-Type Rally Cars Celebrate 70 Years of Sports Car Heritage
Superhero Color Runners Prove We Are All Unstoppable!
Alstom delivers first Dubai metro trainset on time
Special Olympics Will Create a Legacy of Inclusion Through Art
Puma Drops Cali in New Colorway
Celebrate a Month-long Festive Feast at Swissôtel Al Ghurair
Kors Dubai: Michael Kors Celebrates A New Middle East Flagship Store and Specia...
Mademoiselle Longchamp
Audi Innovation Award Winner Announced at Dubai Design Week
Sheikh Mohammed Bin Rashid Al Maktoum Global Aviation Award
Epson's Saudi roadshow highlights environment friendly Inkjet printers in line w...
MDC Business Management Services Wins ‘Best Shared Services Initiative in UAE' Award
Roda Hotels and Resorts named front-runner and pioneer of the regions hospitalit...
Celebrated singer and songwriter Atif Aslam set to perform at BOLLYWOOD PARKS™ Dubai
HE Abdulla Ali Bin Zayed Al-Falasi officially opens HR Summit & Expo 2018
Turkish Airlines reached 83.4% Load Factor in October
The Central Bank's Higher Sharia Authority Discussed the Sharia Governance for t...
The IKEA Soft Toy Drawing Competition Is Back to Bring a Child's Dream Toy to Life!
Groundwork begins at historical Mina Al Sultan Qaboos
‘Successful Food Factories of the Future will be Driven by data' – Opening of Ag...