Arab Financial Inclusion Day
28 April 2019
The Council of Arab Central Banks and Monetary Authorities Governors gives a great attention to enhancing the access to finance and financial services in Arab countries. The Council is mindful of the substantial potential opportunities that can be achieved through the enhancing of financial inclusion to support inclusive and sustainable economic development, meet the challenges of unemployment, and achieve social justice.
In this connection, in light of the increasing need to further raise awareness of the importance of financial inclusion and its aspects for all parties in the Arab countries, the Council of Arab Central Banks and Monetary Authorities Governors in 2016 has proclaimed the 27th of April of every year as the Arab Financial Inclusion Day. This year, the Arab Financial Inclusion Day is celebrated under the slogan “Financial Inclusion for Sustainable Development”. On this occasion, the Council reiterates its support to the efforts exerted by the international community to enhance financial inclusion and its link to achieving sustainable development, primarily the efforts of G20, which adopted financial inclusion topic as one of the main aspects of the economic and financial development program.
The Council is keen to see that financial inclusion issues in Arab countries are given the accord they deserve. Therefore, the Council has directed to launch a number of different activities and initiatives in cooperation with relevant regional and international organizations. These efforts were further enhanced when the Arab Monetary Fund has, under the Council’s auspices and in cooperation with a number of regional and international organizations, launched FIARI (Financial Inclusion in the Arab Region Initiative) aimed to empower and enhance capacities and capabilities to overcome the obstacles that hinder financial inclusion indicators in Arab countries. In this connection, the Council values the comprehensive model of statistical surveys detecting demand on financial services in Arab countries. This comprehensive model relates to financial services provided to individuals, companies, and micro, small and medium-sized enterprises, which was developed under this initiative. The Council calls on implementing this model in all Arab counties to help improve financial inclusion indicators and adopt appropriate policies and strategies.
The Council also values the steps and actions taken by Arab countries to promote financial inclusion, and reiterates the importance of including all society categories and sectors in the formal financial system, namely the youth, women, entrepreneurs, micro, small and medium-sized enterprises by enhancing their access to, and use of, financial services and products that suit their needs at reasonable costs and conditions, and by protecting their rights and improving their knowledge and awareness of financial issues so that they can make sound investment decisions.
The Council stresses the increasing importance of using modern financial technologies in financial and banking sectors, and the significant and accelerated growth witnessed by the industry of such technologies and their related services world-wide, in addition to the great potentials offered by these technologies and services in terms of enhancing the efficiency of financial and banking operations, particularly in the area of supporting the opportunities to access finance and financial services and encourage entrepreneurship. This requires continuous consultations about the consequences and directions of using such technologies, in a pursuit to maximize the benefits they provide on one hand and limit the negative impacts on the soundness and integrity of financial and banking operations on the other hand. In this connection, the Council welcomes the launch of regional task force on modern financial technologies by Arab Monetary Fund, which aims to study issues related to modern financial technologies, consult, and share expertise and knowledge about the same in order to crystalize different visions on how to activate and regulate those technologies in Arab countries.
Commercial Bank demonstrates commitment to financial inclusion
In conclusion, the Council calls on all member states to participate in the events of the Arab Financial Inclusion Day by implementing the events and activities that promote and highlight the vision of financial inclusion and its objectives. We wish you all the best of success in your endeavors and hope that you achieve the desired objectives.
Given the importance of financial inclusion and its prominent contribution to sustainable development and financial stability, Commercial Bank celebrates the “Arab Financial Inclusion Day” on April 28, 2019. Keen on meeting its clients’ various and ever-changing needs, Commercial Bank provides innovative products and services guided by its five core values: Corporate earnings quality, Client experience, Creativity and innovation, Culture, and Compliance.
• Corporate earnings quality: The bank aims to achieve sustainable quality earnings by, re-shape our risk book, diversify revenue streams, cost control and subsidiary and associate contribution.
• Client experience: The bank is employing People, Process and Technology to become “Qatari Bank of Choice” for clients.
• Creativity and innovation: The bank is embarking on a digital transformation journey and will continue to be pioneer of this change in the market.
• Culture: The focus is on a “One Bank, One Team” culture, based on values of respect, collaboration, and teamwork. The bank uses all resources collectively to achieve the best outcome for customers and stakeholders.
• Compliance: The bank considers this as core to our business, the ability to be robust and manage with good governance is vital when building and sustaining a market-leading Bank.
Consumer Banking
Through Retail Banking services, Commercial Bank manages the banking and financial needs of individuals and businesses including small and medium-sized enterprise (SMEs). The bank provides a full range of innovative products and services including transactional accounts, deposits, loans, credit cards, insurance, and wealth management solutions, that all help our customers to realise their financial goals, ambitions and achieve sustainable personal life and business.
Given the importance of financial inclusion and its prominent contribution to sustainable development and financial stability, Commercial Bank celebrates the “Arab Financial Inclusion Day” on April 28, 2019. Keen on meeting its clients’ various and ever-changing needs, Commercial Bank provides innovative products and services guided by its five core values: Corporate earnings quality, Client experience, Creativity and innovation, Culture, and Compliance.
• Corporate earnings quality: The bank aims to achieve sustainable quality earnings by, re-shape our risk book, diversify revenue streams, cost control and subsidiary and associate contribution.
• Client experience: The bank is employing People, Process and Technology to become “Qatari Bank of Choice” for clients.
• Creativity and innovation: The bank is embarking on a digital transformation journey and will continue to be pioneer of this change in the market.
• Culture: The focus is on a “One Bank, One Team” culture, based on values of respect, collaboration, and teamwork. The bank uses all resources collectively to achieve the best outcome for customers and stakeholders.
• Compliance: The bank considers this as core to our business, the ability to be robust and manage with good governance is vital when building and sustaining a market-leading Bank.
Consumer Banking
• Corporate earnings quality: The bank aims to achieve sustainable quality earnings by, re-shape our risk book, diversify revenue streams, cost control and subsidiary and associate contribution.
• Client experience: The bank is employing People, Process and Technology to become “Qatari Bank of Choice” for clients.
• Creativity and innovation: The bank is embarking on a digital transformation journey and will continue to be pioneer of this change in the market.
• Culture: The focus is on a “One Bank, One Team” culture, based on values of respect, collaboration, and teamwork. The bank uses all resources collectively to achieve the best outcome for customers and stakeholders.
• Compliance: The bank considers this as core to our business, the ability to be robust and manage with good governance is vital when building and sustaining a market-leading Bank.
Consumer Banking
Through Retail Banking services, Commercial Bank manages the banking and financial needs of individuals and businesses including small and medium-sized enterprise (SMEs). The bank provides a full range of innovative products and services including transactional accounts, deposits, loans, credit cards, insurance, and wealth management solutions, that all help our customers to realise their financial goals, ambitions and achieve sustainable personal life and business.
Given the importance of financial inclusion and its prominent contribution to sustainable development and financial stability, Commercial Bank celebrates the “Arab Financial Inclusion Day” on April 28, 2019. Keen on meeting its clients’ various and ever-changing needs, Commercial Bank provides innovative products and services guided by its five core values: Corporate earnings quality, Client experience, Creativity and innovation, Culture, and Compliance.
• Corporate earnings quality: The bank aims to achieve sustainable quality earnings by, re-shape our risk book, diversify revenue streams, cost control and subsidiary and associate contribution.
• Client experience: The bank is employing People, Process and Technology to become “Qatari Bank of Choice” for clients.
• Creativity and innovation: The bank is embarking on a digital transformation journey and will continue to be pioneer of this change in the market.
• Culture: The focus is on a “One Bank, One Team” culture, based on values of respect, collaboration, and teamwork. The bank uses all resources collectively to achieve the best outcome for customers and stakeholders.
• Compliance: The bank considers this as core to our business, the ability to be robust and manage with good governance is vital when building and sustaining a market-leading Bank.
Consumer Banking
Through Retail Banking services, Commercial Bank manages the banking and financial needs of individuals and businesses including small and medium-sized enterprise (SMEs). The bank provides a full range of innovative products and services including transactional accounts, deposits, loans, credit cards, insurance, and wealth management solutions, that all help our customers to realise their financial goals, ambitions and achieve sustainable personal life and business.
Expansion of digital customer services
Innovation has always been at the heart of Commercial Bank. This commitment to innovation continues today, with Commercial Bank launching several ‘first-to-market’ digital innovations in 2018, including an expanded 60 Seconds Remittance service to Nepal and Pakistan, expanding the service initiated in 2017 to India, Sri Lanka, and the Philippines. The milestone of enabling more than two million 60 Seconds Remittances was surpassed in 2018. Client-centric advancements in technology include the ‘Tap and Pay’ Credit Cards for quick and easy purchases, the Corporate & SME Mobile Banking App that offers convenient tailored services, and a Remote Cheque Deposit solution that allows customers to process cheques digitally for clearing.
In another digital first, Commercial Bank introduced the CB Smart tracker for Corporate Banking clients. This online portal allows customers to view the progress of their trade finance requests and eliminate the need to visit or call the Bank during the process. For customers who prefer to use paper-based instructions, the Bank provides dynamic SmartForms, a sophisticated solution that performs necessary validation of customer data to trigger real-time payments.
Transaction Banking
The future of banking will be determined by banks who can capture an increasing share of transaction flows and do so cost-effectively. Transaction Banking is an essential part of our strategic future and is a key element of Commercial Bank’s vision. In 2018, several global banks again recognised Commercial Bank as best in class for our seamless payments services, which enabled real-time processing particularly in US dollar and Euro transactions.
Supporting Qatar’s economy
Commercial Bank is committed to helping support the development of Qatar’s economy and future sustainability in line with the goals of the economic pillar of the Qatar National Vision 2030. To promote excellence within the country’s financial sector, the Bank takes part in strategic Conferences that addresses Qatar’s post-blockade strategy, and on how the financial services sector can work together to drive Qatar’s private sector and economic growth.
As part of its remit to support international trading relations, the Bank participates in forums and seminars where high-level government officials and executives from around the world come to discuss business and investment opportunities in Qatar and to expand the long-term strategic collaboration and two-way trade between Qatar and other friendly countries.
Innovation has always been at the heart of Commercial Bank. This commitment to innovation continues today, with Commercial Bank launching several ‘first-to-market’ digital innovations in 2018, including an expanded 60 Seconds Remittance service to Nepal and Pakistan, expanding the service initiated in 2017 to India, Sri Lanka, and the Philippines. The milestone of enabling more than two million 60 Seconds Remittances was surpassed in 2018. Client-centric advancements in technology include the ‘Tap and Pay’ Credit Cards for quick and easy purchases, the Corporate & SME Mobile Banking App that offers convenient tailored services, and a Remote Cheque Deposit solution that allows customers to process cheques digitally for clearing.
In another digital first, Commercial Bank introduced the CB Smart tracker for Corporate Banking clients. This online portal allows customers to view the progress of their trade finance requests and eliminate the need to visit or call the Bank during the process. For customers who prefer to use paper-based instructions, the Bank provides dynamic SmartForms, a sophisticated solution that performs necessary validation of customer data to trigger real-time payments.
Transaction Banking
The future of banking will be determined by banks who can capture an increasing share of transaction flows and do so cost-effectively. Transaction Banking is an essential part of our strategic future and is a key element of Commercial Bank’s vision. In 2018, several global banks again recognised Commercial Bank as best in class for our seamless payments services, which enabled real-time processing particularly in US dollar and Euro transactions.
Supporting Qatar’s economy
Commercial Bank is committed to helping support the development of Qatar’s economy and future sustainability in line with the goals of the economic pillar of the Qatar National Vision 2030. To promote excellence within the country’s financial sector, the Bank takes part in strategic Conferences that addresses Qatar’s post-blockade strategy, and on how the financial services sector can work together to drive Qatar’s private sector and economic growth.
As part of its remit to support international trading relations, the Bank participates in forums and seminars where high-level government officials and executives from around the world come to discuss business and investment opportunities in Qatar and to expand the long-term strategic collaboration and two-way trade between Qatar and other friendly countries.