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Al Rajhi Bank

Islamic Retail Banks rises step higher to being One-Stop Financial Solution Provider

: Monday, July 07 - 2014 @ 11:13

Globally, Islamic banking is an increasingly visible alternative to conventional banks. Identifying the sources of Islamic banking’s expansion and ways to stimulate its continued growth is therefore of interest to policymakers.

Islamic banking is not only growing in size, but also in sophistication, with products offered ranging from Shariah-compliant credit cards to insurance and investment products. Islamic bankers have realized the importance to continually improve, re-evaluate and improvise their retail strategy, in order to be updated with the ever changing banking trends.

Innovation, enhanced customer involvement and engagement, integrated multi layered banking system are a few of the key features that retail banking business must be addressing to have a successful tomorrow. Islamic retail banks thus along the lines of conventional banks have to develop strategies to be equipped with all fiscal solutions to is customers and be the sole answer to any banking and financial query for its customer base.

6th World Islamic Retail Banking Conference, will provide an unique platform for global retail banking leaders to evaluate their strategic options in the Exclusive sessions – the Guru Retail Panel, titled as ‘One-Stop Financial Solution Provider’.

Joined by Shamsun Anwar Hussain, Managing Director: Consumer Banking – CIMB Group; Akif Shaikh, Assistant General Manager: Head of Retail Business & Innovation Retail Banking Group – Al Rajhi Bank; Rizwan Ata, Group Head – Islamic Banking, Bank Alfalah Limited; Hisham Hammoud, COO – Ajman Bank; Bilal Fiaz, Head of Retail Banking & Branches – Sohar Islamic Bank Sohar; Halil Furkan Kesler, Product Development Specialist – Kuwait Turk Participation Bank; Imran Samee, Head – Consumer Banking Division – Bank Islam Brunei Darussalam (BIBD), Asad Batla, Head Consumer Banking Division – Bank Nizwa, this exclusive session will also be focusing on the below key points:

• Generation Y – why are they important and what are they looking for in a bank?
• Greater emphasis should be on listening to the voice of businesses
• It is imperative for retail banks to create a comprehensive mobile strategy that centers around an integrated and seamless multichannel banking experience

Supported by the Dubai Center for Islamic Banking and Finance, this conference will be taking place on the 23 – 24th of November 2014, The Address Dubai Marina – UAE.

Islamic banking products are inherently more complex than their conventional counterparts, due to competitive nature within the industry and concerns of innovative products being within the scope of Shariah compliance. Additionally there is a burden on distribution, is imposed which has to explain the intricacies of the products to clients and, in some cases, convince them of the products’ sharia compliance, as well.

Understanding this major challenge to conceptualize and innovate new products in the Islamic retail banking industry, Temenos Group AG, will address this issue in a dedicated session entitled as ‘Product Challenges faced by Islamic Retail Banks’. Temenos Group is the Gold Sponsor for this conference, and would be providing unparalleled solutions pertaining to the industry.

Media Contact:
Mohor Mukherjee
Tel: +97146091570
Email: [email protected]

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Monday, July 7- 2014 @ 11:13 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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