Al Ahli Bank of Kuwait’s Post

The Board of Directors of The Bank of Punjab has approved the establishment of a Wholesale Banking Unit (WBU) in Bahrain and a representative office in the UAE. This decision, shared in a notice to the Pakistan Stock Exchange, is pending approval from regulatory authorities including the State Bank of Pakistan. Wholesale banking targets large clients like financial institutions and corporations, contrasting with retail banking. The bank's recent financial results indicate significant growth in profit, net interest margin, and earnings per share for the first quarter of 2024. #BankofPunjab #Bahrain #UAE #WholesaleBanking #FinancialServices #SBPApproval #BusinessExpansion #FinancialResults #CxOnews #CxOGlobalForum

🚀 Exciting times ahead! We are focused on expanding our eCommerce base and digitizing our MCB Islamic customers. By enhancing our digital offerings, we aim to provide a seamless and innovative experience for our clients. Join us on this journey to transform the way we serve our community! 🌟 #eCommerce #DigitalTransformation #MCBBank #MCBIslamic #MIB Ali Nasim Syed Baqir Ali Tirmizi

#Saudi Arabia’s point-of-sale transactions climbed 2.6 percent to SR13.7 billion ($3.6 billion) in the week ending Oct. 5, driven by a sharp increase in spending within the education sector, official data showed. The latest figures from the Saudi Central Bank – SAMA, showed that the education sector led the growth with a 96.8 percent surge in transactions, totaling SR196.8 million, following weeks of declines since the academic year started in August. 

When a leading Islamic bank in Oman sought to modernize its retail onboarding process, the challenge was immense—balancing the intricacies of Shari'a compliance with the need for a seamless digital experience. Partnering with i-exceed, the bank overcame these challenges and set new benchmarks in efficiency, customer engagement, and operational excellence.   Curious about how we achieved this? Dive into the full story to see how our innovative solutions transformed the bank’s operations.   Download the case study here to explore the key insights: https://lnkd.in/gYkDfV6z   #islamicbanking #digitalbanking #finance #iExceed #casestudy

Pakistan’s MCB Islamic Bank Ltd. secured itself a global win as the “Best Emerging Islamic Retail Bank in Pakistan 2024” at the #Islamic Retail Banking Awards (IRBA) ceremony in Dubai, UAE. MCB Islamic Bank, MCB Bank's sole #Islamic banking subsidiary, has achieved significant growth, expanding its branch network to over 290 locations, boosting #digital transactions, and attracting a growing customer base. The achievement acknowledges the bank's commitment to providing superior Shariah-compliant financial solutions, backed by the trust of its customers and stakeholders with its A+ PACRA rating further solidifying the bank's financial stability and #innovative approach to tailored customer empowerment. Emphasizing the cumulative efforts by the bank’s employees, Shariah Board, Board of Directors, and stakeholders in driving MCB Bank’s success, representatives reaffirmed the bank’s commitment to enhancing #accessibility and #service delivery in Islamic banking. This award solidifies MCB Islamic Bank's position as a leading innovator in Pakistan's Islamic banking sector, committed to financial inclusion and customer satisfaction with #innovative solutions. #DigitalPakistan #TechUpdate

I think it is a combination of 2 primary factors : 1. The uptake of merchants from brick & mortar to online merchandising and 2. the embrace of e-commerce by the end consumer catalysed by advancements in data security and ease of use. The trust tipping point has been reached.

According to data from the Qatar Central Bank, as of October 2024, Qatar's e-commerce transactions reached 8.08 million, with a total transaction value of 3.97 billion Qatari riyals, up 17% and 39% respectively from the same period last year. At the same time, point-of-sale (POS) transactions also increased to 8.07 billion Qatari riyals, up 6% year-on-year. POS transactions reached 38.09 million, up 19% year-on-year.

Proud to share Sharjah Islamic Bank collaboration with Network International. This partnership focuses on delivering advanced integrated payment solutions, enhancing security and driving innovative and seamless experiences. A key step towards driving digital transfirnation and supporting exceptional client services

#Saudi Arabia’s point-of-sale transactions registered a weekly increase of 20.4 percent between Aug. 25 and 31, with the telecommunication sector leading the growth. The Saudi Central Bank – SAMA, recorded SR14 billion ($3.7 billion) in transactions over the seven-day period, with the telecoms industry posting the highest sectoral increase at 42 percent to reach SR131.9 million.

In line with Saudi Central Bank – SAMA’s strategic initiatives, retail consumer e-payment reached 70% (62% in 2022, with 12.9% increased) of total retail payments in Saudi Arabia 🇸🇦 in 2023: ⭕️ Sari Payements (Instant payements) 437 Million transactions, +26% compared to 2022. ⭕️ Mada Card Online payments 874 million transactions, +43% compared to 2022. ⭕️ Card Payments via POS approximately 9 billion transactions, +24% compared to 2022. #fintech #payments #paymentstransactions #pos #contactless Source: SAMA.